Uttar Pradesh Chief Minister Yogi Adityanath will visit Mumbai on December 2 to ring the bell at the Bombay Stock Exchange (BSE) during the listing of the Lucknow Municipal Corporation (LMC) bonds. The Chief Minister, during his Mumbai visit, will also interact with prominent industrialists and Bollywood celebrities and invite them to invest in Uttar Pradesh.
Lucknow is the first city of north India to release the bond of its municipal corporation and soon the municipal corporations of Ghaziabad, Varanasi, Kanpur Nagar and Agra will follow suit. The Rs 200 crore-bond issue was floated just before Diwali and was oversubscribed by 4.5 times to raise Rs 450 crore. “The 10-year bond closed at a very attractive coupon rate of 8.5 per cent only because India Inc. has shown faith in the potentiality and prospects of Uttar Pradesh,” a senior official said.
The government spokesman said, “During his day-long visit, Yogi Adityanath will be meeting eminent industrialists, bankers and renowned Bollywood celebrities. He will be informing them about how the Uttar Pradesh government has created a conducive atmosphere for industrialization by way of simplification of policies, single-window mechanism for various clearances and a sound law and order as a potent back-up besides availability of basic infrastructure and manpower.
The Chief Minister will be discussing these issues with the industrialists and bankers, including N. Chandrashekhar of Tata Sons, Dr. Niranjan Hiranandai of Hiranandani group, Baba Kalyani of Bharat Forge, Suprakash Chaudhary, CEO of Simmons, S.N. Subramaniam, Chairman of L&T, Vikas Jain of Capital Services, Sanjay Nair, Chairman of KKR Ltd, Jaspal Bindra, Chairman of Centrum Capital Ltd, Sukaran Singh, CEO and MD of Tata Advanced Systems, Harshvardhan of Tata Defence Technology, Ashish Rajvansh of Adani Defence, Rajat Gupta of Ashok Leyland T.S. Darbari, CEO and MD of Texmaco Defence System.
Among the film personalities who will meet the Uttar Pradesh Chief Minister during his Mumbai visit, are Subhash Ghai, Bonny Kapoor, Bhushan Kumar of T-Series, Jatin Sethi of Zee Studio, Rahul Mitta, Neeraj Pathak, Randeep Hooda, Tigmanshu Dhulia, Jimmy Shergill, Taran Adarsh, Komal Nahta and Raj Kumar Santoshi. Earlier in December 2017, the Chief Minister had gone to Mumbai and invited prominent industrialists to the Investors’ Summit that was held in Lucknow in February, 2018.
During that visit, he had met Mukesh Ambani, Ratan Tata, Anand Mahindra and others, and most of them came to Lucknow and took part in the Investors’ Summit. It may be mentioned here that during the summit, memorandums of understanding (MoUs) of about Rs 4.52 lakh crores were signed and investments of about Rs two lakh crore have already come on the ground through two ground-breaking ceremonies that have taken place since the summit. In September, Yogi Adityanath had unveiled an ambitious plan to set up a film city in Noida and rolled out an open offer to the film fraternity to come to the state for filmmaking.
