Thu Apr 24 11:23:45 UTC 2025: ## Kochi Corporation to Issue Municipal Bonds for Revenue-Generating Projects
**KOCHI, KERALA –** The Kochi Corporation is poised to become the first city in Kerala to issue municipal bonds to finance revenue-generating projects. Following discussions with the Securities and Exchange Board of India (SEBI), the corporation plans to improve its credit rating by professionalizing its financial statements with the help of a SEBI-accredited agency. This move, included in the 2025-26 budget, requires a state government order to proceed.
Mayor M. Anilkumar met with SEBI officials, including full-time member Ashwani Bhatia, who expressed strong support for the initiative. Mayor Anilkumar emphasized the council’s unanimous support and commitment to utilizing bond markets responsibly, focusing solely on projects with a proven return on investment. While initially aiming to raise ₹25 crore, the corporation plans to leverage its idle land assets to attract investors.
The project draws inspiration from successful ventures undertaken with Cochin Smart Mission Limited, which have demonstrated the viability of self-sustaining development without straining the city’s finances. The central government’s encouragement of such financial models, evidenced by SEBI’s involvement, further strengthens investor confidence. Mayor Anilkumar highlighted the advantage of municipal bonds for local bodies, unlike state or central governments, which can absorb larger debts. He previously proposed the introduction of municipal bonds across all Kerala urban local bodies, a suggestion subsequently incorporated into the state budget.
First Piper 