This will also mark the first municipal bond offering in the country in 2026-27.
Separately, the Brihanmumbai Municipal Corporation (BMC) is in advanced stages of finalising merchant bankers, the people said. The BMC is expected to raise ₹1,000 crore in this financial year, as reported by ET in April.
Bihar is poised to enter the municipal bond market with Patna Municipal Corporation planning to raise ₹200 crore over 10 years, marking the nation’s first civic bond issue of 2026-27. Meanwhile, the Brihanmumbai Municipal Corporation is nearing the finalization of merchant bankers for its ₹1,000 crore fundraising this fiscal year. Ahmedabad Municipal Corporation is also in discussions to secure a similar amount.
Besides BMC, the Ahmedabad municipal corporation is in talks to raise ₹1,000 crore.
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