India IPO Municipal Debt Securities Public Issue

Municipal Debt Securities Public Issue

Empowering Indian Cities to Raise Capital for the Public Good

Urban India is once again on the fast track to growth, but the entire system is struggling to meet the demand for sustainable, contemporary infrastructure. India IPO provides a platform for the municipal bodies of India to access the capital markets via Public Issues of Municipal Debt Securities (MDS) — a regulated, transparent and inclusive mechanism for financing public infrastructure projects.

What Are Municipal Debt Securities?

Municipal Debt Securities Public Issue (MDS) are the bonds issued by Urban Local Bodies (ULBs) such as city corporations to fetch capital from the general public to finance various important and essential infrastructure projects such as roads, water supply systems, waste collection systems, transport hubs and green energy, etc.

With the help of Public Issued Municipal Debt Securities, cities will no longer need to depend only on government grants or rely on internal revenues, but will now have direct access to retail and institutional investor interest, meaning citizens will have a direct stake in the development of their city.

India IPO: Your End-to-End Advisory Partner

India IPO serves as a strategic advisory partner to municipalities, smart city projects and state-level urban development bodies. Our services include:

Feasibility & Eligibility Assessment

Assessment of Financial Health and Creditworthiness
Regulatory compliance review as per SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015
Review of Revenue models and ability to service Debt

Structuring the Bond Issue

Instrument design – secured/unsecured, tenure, coupon rate
Assistance in selecting the right bond category (general obligation, revenue bonds, etc.)
Evaluation of tax-free bond eligibility

Drafting & Regulatory Filings

Preparation and Review of Draft Offer Document (DOD)
Coordination with SEBI and designated stock exchanges
Integration of disclosures, project details, risk factors, and repayment schedules

Intermediary Coordination

Liaison with merchant bankers, credit rating agencies, legal advisors, and debenture trustees
End-to-end project management from approval to launch

Investor Outreach & Subscription Management

Investor education and marketing to increase retail and institutional participation
Digital and offline subscription management, including UPI-based platforms
Roadshows and webinars to raise awareness and trust

Listing & Post-Issue Support

Bond listing support on recognized stock exchanges (like NSE/BSE)
Assistance with secondary market trading readiness and disclosure compliance
Ongoing investor reporting and trustee coordination

Why Public Issue Over Private Placement?

Feature	Public Issue	Private Placement
Investor Base	General public & institutions	Select institutional investors
Regulatory Oversight	Strict SEBI compliance & disclosures	Relatively relaxed compliance
Market Visibility	Higher - listed on exchanges	Lower — traded privately
Transparency	Greater- detailed disclosures & ratings	Moderate
Fundraising Potential	Larger, scalable capital raise	Limited to select investors

Partner with India IPO

Whether you are a municipal commissioner, an urban development official, or a smart city executive, India IPO provides the knowledge, tools, and execution support to bring your Municipal Debt Securities Public Issue to market seamlessly and successfully.

Let’s build a future-ready India — city by city, bond by bond.

Get Started Today

Book a free consultation with our Municipal Finance Advisory Team.