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| Issue Size (Base) | ₹122.00 Cr |
| Issue Size (Shelf) | ₹244.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | NSE |
| Tenor | 3, 5, 7, and 9 years |
| Credit Rating | IND AA+/Stable by India Ratings and CARE AA; Stable by CARE Ratings Limited. |
| Series | Series I |
| Payment Frequency | Half yearly |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-20 | 5,119.80 | 1,675.36 | 258.80 | 4,152.11 |
| 31-Mar-21 | 5,991.88 | 1,564.94 | 265.53 | 4,616.16 |
| 31-Mar-22 | 6,373.51 | 1,807.43 | 303.01 | 4,994.85 |
| Amount in ₹ Crore | ||||
The Corporation proposes to utilize the proceeds raised through the Issue towards Funding capital expenditure towards the installation of 60 MW Ground Mounted Captive Solar PV Power Plant at Village Samraj & Ashukhedi, District Khargone in Madhya Pradesh.
| # | Issue Objects |
|---|
The company has received rating of IND AA+/Stable by India Ratings and CARE AA; Stable by CARE Ratings Limited for the bonds proposed to be issued pursuant to this Issue.
| Series 1 | ||||
|---|---|---|---|---|
| STRPP with different ISIN | STRPP A | STRPP B | STRPP C | STRPP D |
| Nature | Secured | |||
| Frequency of Interest Payment | Half Yearly | |||
| Tenor | 3 Years | 5 Years | 7 Years | 9 Years |
| Coupon Rate (Retail) | 8.25% | 8.25% | 8.25% | 8.25% |
| Effective Yield (% per Annum) | 8.41% | 8.41% | 8.41% | 8.42% |
The Indore Municipal Corporation (IMC) was constituted under Article 243Q(1)(c) of the Consititution of India 1949, and established in the year 1956 under the Madhya Pradesh Municipal Corporation Act, 1956. The entire city of Indore is divided into 69 wards and 12 zones for its better and well organized administration. There are 13 departments in Corporation and each department is headed by councilors who are elected from these wards. Mayor is the head of Corporation and he is elected by the voting of citizens residing within the municipal limits of IMC. Other members include 2 Members of Parliament, and 5 members of State legislative Assembly.
The major functions assigned to this municipal corporation include the construction of new roads and maintenance of existing ones, Regulation of drainage system, water supply, electricity supply, waste management, registration of birth and death, issuance of marriage certificates and trade licenses, collection of property tax, street management, waste disposal, and all other services conceded to it.
To regulate and perform its duties efficiently, IMC Indore is sub divided into 13 departments which include separate departments for Accounts, Education, Electric Supply, Fire management, Food and Civil Supplies, Health, Housing & Environmental Development, Information Technology, Law and General Administration, Planning & Rehabilitation, Public Works, Revenue, Water Works and Drainage.
