August 27, 2018

Amaravati bonds listed on Bombay Stock Exchange

Amaravati bonds listed on Bombay Stock Exchange

27th August 2018, Mumbai, was a historic day for the Sunrise State of Andhra Pradesh. Firstly, the Amaravati bonds were listed on the Bombay Stock Exchange and secondly, a large number of captains of the Indian industry have met Mr. N. Chandrababu Naidu, the Hon’ble Chief Minister and expressed their commitment to be partners in the growth story of Andhra Pradesh.

The Amaravati Bonds issued by the Andhra Pradesh Capital Region Development Authority were oversubscribed by 1.5 times, raising INR 2,000 Crores in a short time, making it the largest ever successful bond issue by any urban development authority in India. This signifies the strong confidence of investors in the potential of Amaravati as a city of the future, reflecting the best global standards.

The programme at the Bombay Stock Exchange from 8.30 AM to 10.30 AM was hugely successful, with a large number of industry leaders and financial experts from Mumbai attending the event and applauding the developmental programmes taken up at Amaravati and other parts of Andhra Pradesh, which were very well showcased by the Hon’ble Chief Minister.

Thereafter, the Hon’ble Chief Minister, along with the delegation visited the Bombay House, the headquarters of the Tata Group, and met Mr. Ratan Tata, Mr. N. Chandrasekaran, and other doyens of the Tata Group. He also visited the state-of-the-art Experience Center at the Tata Headquarters, which showcased the fabulous contribution of the Tata Group to the industrial sector and the highly appreciable philanthropic activities of the group.

Afterwards, the Hon’ble Chief Minister had a series of meetings concerning investments and developmental works in the state of Andhra Pradesh. The day started with meetings at 7 in the morning and ended at 12 in the night, yet another typical 17-18 hours working day in the highly-focused daily schedule of the Hon’ble Chief Minister.

The Hon’ble Chief Minister addressed a business roundtable with about 100 CEOs and business leaders representing top corporations. The presentation made by the Hon’ble Chief Minister, show-casing investment opportunities in Andhra Pradesh, was highly appreciated.

During the roundtable, two MoUs were signed by the Andhra Pradesh Economic Development Board. The first MoU was with the Retailers Association of India, which has partnered with Andhra Pradesh, to promote the retail sector in the state, which will potentially create large employment opportunities in the state. The second MoU was with HIK Vision, which is one of the leading manufacturers of CCTV cameras and other security systems in India, to invest over INR 500 Crores, in setting up a new production facility in Andhra Pradesh.

Thereafter, the Hon’ble Chief Minister met the who’s who of India Inc., who came to meet him, including Mr. Mukesh Ambani, Chairman Reliance Industries; Mr. Nadir Godrej, MD Godrej Industries; Ms. Sangeeta Prasad, CEO Mahindra Lifespaces; Mr. Kumar Mangalam Birla, Chairman Aditya Birla Group; Mr. B.K. Goenka, Chairman Welspun Group; a high-level delegation from the Piramal Group; Mr. Subash Chandra, Chairman Essel Group; Mr. Venkat Subramanian, MD Saint Gobain India; Mr. Neil Raheja, Group President, Raheja Group; Dr. Purnendu Chatterjee, Chairman Haldia Petrochemicals; and others.

The captains of industry appreciated the Hon'ble Chief Minister, as Andhra Pradesh under his leadership, received over 500 prestigious national and international awards, including - being rated by the World Bank and the Government of India as number one State in the Ease of Doing Business rankings in India, consistently being ranked amongst top three states in securing investments in India, and for achieving double digit GDP growth rate in all three sectors i.e. Agriculture, Industry and Service sectors, for three consecutive years, making Andhra Pradesh the fastest growing major state in India, with 11.2% growth rate.

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