Chandrababu Naidu bloats on Amaravati bonds at BSE

Vijayawada: 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 utilize this golden opportunity to build the best world class capital city on a fast track and realise the aspirations of 5 crore people," he said. The Chief Minister further instructed the CRDA officials to prepare a report on the programme in Mumbai on August 27 and on the further steps that needs to be taken on Amaravati Bonds issue and submit the same during the review meeting on Thursday at Secretariat. The Chief Minister is going to discuss the bonds issue and the future course of action in this regard. The officials said that Amaravati public issue of Bonds will be launched by October 2018.

When the officials explained that the retail investors were very keen to invest in Amaravati, the Chief Minister suggested them that the common public should also be involved in the capital development. "I strongly desire that the economic and development fruits of Amaravti needs to reach all the people of the State.

Explain the people that the credibility of the state government has established again with the quick response of investors. It is a history that the APCRDA could get Rs 2,000 crore within just an hour without mortgage any lands or assets. No state government in the country has achieved this record so far. As the entire world has watched the miracle, it will definitely encourage the global investors to come and invest in Amaravati and various districts across the state," he said.

He has also wanted officials to have constant interaction with the investors and business men and highlight the progress in capital city up to date which would be useful in realizing the investments promised during the partnership summits also.