NAIDU BLOATS ON AMARAVATI BONDS AT BSE

Buoyed by an overwhelming response to the Amaravati bonds, Chief Minister N Chandrababu Naidu said on Wednesday that his confidence proved true with the oversubscription of bonds by 1.53 times within an hour after issued on Electronic Bidding Platform of Bombay Stock Exchange.

The Amaravati Capital Region Development Authority (APCRDA) could get Rs 2,000 crore within an hour and the amount (Rs 2,000 cr) is likely to be credited (to CRDA) by Thursday’s evening or within two days. With this, it would be easier to APCRDA to obtain funds for capital city works from various financial institutions/banks.

Mr Naidu said that from the beginning, he was confident that the national and international investors had good faith in Amaravati project and were keen to invest. “Now my confidence has proved true. It is a great boon for the capital city. The credibility of Amaravati has enhanced manifold at national and international levels. This credit goes to people of Andhra Pradesh, particularly farmers of Amaravati, who parted their lands to facilitate construction of the capital city. I am sure that the investments will double in near future,” he said.

During a brief exclusive teleconference with APCRDA officials, the Chief Minister directed them to invite all prominent businessmen and investors to the programme in Mumbai during which the Amaravati bonds would be listing in Bombay Stock Exchange (BSE).

“Sky is the limit for us. We have overwhelming support from people of the state and investors as well. They have reposed good faith in us. My credibility is a big asset in attracting investments to Amaravati. You (officials) have to work out the strategies to