authority: Yeida Set To Float Infra Bonds For Its Upcoming Tasks | Noida Information

Home » authority: Yeida Set To Float Infra Bonds For Its Upcoming Tasks | Noida Information
Noida: The Yamuna Expressway Authority has initiated the method of appointing a transaction advisor-cum-merchant banker to lift funds by way of infra bonds or different monetary devices in view of the upcoming big-ticket tasks, together with Noida Worldwide Airport and Medical Gadget Park.
To begin with, YEIDA proposes to lift a fund of Rs 500 crore. Other than Noida Worldwide Airport and Medical Gadget Park, officers mentioned, different big-ticket tasks like multi-modal connectivity, metro rail, pod taxi, medical machine park, toy park, heritage metropolis and digital metropolis tasks can be funded.
A request for proposal (RFP) has been issued by the Authority just lately, even because the second pre-bid assembly of bankers and monetary establishments was known as on Monday. The final date of submission of the bid is June 20, whereas it will likely be opened on June 21 to pick out the service provider banker, in line with officers. Through the pre-bid assembly, as many as 9 corporations, together with ICICI Securities, SBI Capital Markets, Axis Financial institution, Belief Group and AK Capital, participated and raised their queries. “The Authority is within the means of getting ready replies to queries raised on the assembly. The reply can be uploaded on-line in a few days,” AK Singh, DGM (finance), YEIDA, mentioned.
As soon as appointed, the technical advisor will conduct a research to evaluate the Authority’s monetary necessities and methods of mobilising funds, Singh mentioned. “The advisor will put together the time period sheet and likewise assist in getting credit standing for launching the infra bonds.” Through the board assembly in April, the Authority permitted the initiative to finish its huge tasks by way of infra bonds.
Municipal bonds are debt devices beneath which the investor is repaid the mounted quantity of principal with curiosity over a interval determined by the company issuing it. The cash raised is then used to fund metropolis growth or upkeep tasks.

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