loader
SURAT MUNICIPAL CORPORATION NCD
Issue Size (Net)
upto to Rs. 200 Crs
Credit Ratings
“CRISIL AA+/Stable & IND AA+/Stable”
Issue Opening Date
OCTOBER 6, 2025
Issue Closing Date
OCTOBER 9, 2025
Specific Terms for Each Series of NCDs
Series I
STRPP with different ISIN STRPP A STRPP B
Tenor 4 Years 5 Years
"Face value per STRPP" Rs.500 Rs.500
"Coupon (% per annum) for NCD Holders in Category I, Category II & Category III" 8.00% 8.00%
"Effective Yield (% per annum) for NCD Holders in Category I, Category II & Category III" 8.16% 8.16%
Put and Call Option Not Applicable
1. Company Information

Surat Municipal Corporation has been constituted under Article 243Q(1)(c) of the Constitution of India, 1949 and established under section 5 of the Bombay Provincial Municipal Corporation Act, 1949. SMC came into existence with effect from October 1, 1966, by way of notification number KP/773/SMC/1066/5620/P made by the Government of Gujarat dated September 9, 1966. Presently, Shri Daxesh Kishorbhai Mavani is the Mayor and Smt. Shalini Agarwal, IAS, is the Municipal Commissioner of the Issuer. The Corporation is mainly responsible for providing civic services to the Surat city and undertakes several works as per provided under Section 63 of the GPMC Act such as lighting public streets, public vaccination, the atering, scavenging and cleansing of all public streets and places in the city, the collection, removal,treatment and disposal of sewage, the construction, maintenance and cleansing of drains and drainage works, construction or acquisition and maintenance of publichospitals and dispensaries.

2. Rating:

IND AA+/Stable’ & CRISIL AA+/Stable

3. SURAT MUNICIPAL CORPORATION NCD 2025 Registrar

KFin Technologies Limited

Selenium Tower-B, Plot 31 & 32 Gachibowli,

Financial District, Nanakramguda,

Serilingampally, Hyderabad – 500 032,

Phone:+91-40-67162222

SURAT MUNICIPAL CORPORATION Limited Financial Information (Restated Consolidated)

Particulars Fiscal 2023 Fiscal 2024 Fiscal 2025
Balance Sheet
Total Fixed Assets20,913.5323,357.2925,933.24
Total Investments130.81130.81130.81
Total Current Assets, Loans & Advances2,744.134,137.774,790.59
Total Assets23,788.4727,625.8730,854.64
Municipal Funds2,681.222,748.502,665.27
Earmarked Funds988.61866.51975.10
Secured Loans200.00480.101,015.23
Unsecured Loans---
Deposits Received549.20620.89683.82
Deposit Works1,055.101,200.011,363.15
Other Liabilities (Sundry Creditors)605.033,312.40389.83
Total Liabilities23,788.4727,625.8730,854.64
Income & Expenditure
Tax Revenue1,526.541,853.152,030.85
Assigned Revenues & Compensation773.90817.30790.17
Fees & User Charges322.19352.25371.61
Revenue, Govt. Grants, Contributions & Subsidies138.14125.57197.23
Establishment Expenses1,743.341,979.162,116.61
Operations & Maintenance755.24873.39928.45
Revenue, Govt. Grants, Contributions & Subsidies156.19223.49316.56
Depreciation704.75768.05803.10
Cash Flow
Net cash generated from/(used in) operating activities (A)2,497.613,939.393,195.10
Net cash generated from/(used in) investing activities (B)-2,507.62-3,197.88-3,275.61
Net cash generated from/(used in) financing activities (C)-17.36262.71535.14
Issuer SURAT MUNICIPAL CORPORATION
Instrument Secured Redeemable Non-Convertible Debentures (NCDs)
Issue Opens on MONDAY, OCTOBER 6, 2025
Issue Closes on THURSDAY, OCTOBER 9, 2025
Issue Size Rs. 100 Crs with an option to retain oversubscription up to Rs. 100 Crs aggregating upto to Rs. 200 Crs
Face value per STRPP Rs.1,000 per NCD comprising of 1 STRPP A of Face value of Rs. 500, 1 STRPP B of Face value of Rs.500;
Minimum Application Rs.10,000 (10 NCDs comprising of 10 STRPP A and 10 STRPP B)
Credit Rating Credit Rating: 'Provisional IND AA+/Stable' by India Ratings & Research Private Limited and 'Provisional CRISIL AA+/Stable' by
Registrar KFin Technologies Limited
Listing The NCDs are proposed to be listed on BSE and NSE
Category I - Institutional II - Non-Institutional III - Retail
Category Allocation 60% 25% 15%
Put/Call Option N.A
Mode of Allotment Compulsorily in dematerialized form.
Allotment First Come First Serve Basis
Depositories NSDL and CDSL
Specific Terms for Each Series of NCDs
Series I
STRPP with different ISIN STRPP A STRPP B
Tenor 4 Years 5 Years
"Face value per STRPP" Rs.500 Rs.500
"Coupon (% per annum) for NCD Holders in Category I, Category II & Category III" 8.00% 8.00%
"Effective Yield (% per annum) for NCD Holders in Category I, Category II & Category III" 8.16% 8.16%
Put and Call Option Not Applicable
Prospectus File

RR Investors Capital Services Pvt. Ltd AMFI-registered Mutual Fund Distributor

ARN-0032 Validity 14-Mar-2027

Head Office - 4th floor, Indraprakash Building 21, Barakhamba Road, New Delhi – 110001

callLandline Number
+91 11-4444-1111

Customer Care
+91 9350316010

Security
Follow Us

SEBI Registration No: NSE Cash: INB231219636 | SEBI Registration No: NSE Derivative: INF231219636 | SEBI Registration No: BSE Cash: INB011219632 | SEBI Registration No: MCX-SX: INE261219636 | SEBI Registration No: NSE Currency: INE231219636 | SEBI Registration No: USE: INE271219631 | SEBI Registration No: CDSL: IN-DP-CDSL-3242005 | NCDEX Membership No: 00635 | MCX Membership No: 28850 | NSEL Membership No: 10650 | RBI Registration No: NBFC: N-14.03215 | IRDA Registration Number : CB-066/03 | AMFI Registration No : ARN -0032| SEBI Registration No: Merchant Banker: INM000007508


* Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing.


© 2022 RR Investors Capital Services Pvt. Ltd | All Rights Reserved.