APMDC Bags Assocham Award For ₹9,000-Crore Bond Mobilisation
APMDC won Assocham’s Best State-Linked Issuer award for raising ₹9,000 crore through secured non-convertible debentures backed by the Andhra Pradesh government.
The Andhra Pradesh Mineral Development Corporation (APMDC) has been conferred the prestigious Best State-Linked Issuer award at the Assocham ‘ninth national summit & awards on corporate bond market’ held in Mumbai on Thursday.
This was in recognition of its successful mobilisation of `9,000 crore through secured non-convertible debentures (NCDs).
The award marks a significant achievement for the Andhra Pradesh government in accessing the corporate bond market and raising substantial funds through a structured debt instrument. The successful transaction also demonstrated APMDC’s capacity for large-scale resource mobilisation, financial management, regulatory compliance and corporate governance.
The corporation credited chief minister N Chandrababu Naidu for his leadership and guidance in facilitating the initiative. It also acknowledged the support extended by the finance department, as also the industries & commerce and the mines & geology departments, besides other institutions and agencies involved in the bond issuance.
Under the leadership of APMDC managing director Pravin Kumar, the corporation raised `9,000 crore through secured NCDs with the backing of the state government. The exercise involved establishing robust debt-servicing and governance mechanisms while adhering to regulatory requirements.
The recognition, APMDC said, reinforced its commitment to financial discipline, transparency, efficient administration and sustainable development of AP’s mineral sector.
According to Assocham’s evaluation framework, nominations were assessed on qualitative and quantitative parameters covering governance, regulatory compliance, innovation, business excellence, strategic initiatives, operational effectiveness and industry impact.
Shortlisted nominations were subsequently placed before an independent seven-member jury comprising senior personalities from the regulatory, financial and corporate sectors. The jury assessed the organisations’ achievements, governance practices, regulatory and administrative systems, innovations, measurable impact and overall excellence before selecting the awardees.
APMDC said the award was an important milestone and would further strengthen its efforts towards good governance, regulatory discipline, transparency and sustainable growth of the mineral sector and the state’s economy.