<h1>Municipal corporation's Rs 25 crore bond issue oversubscribed nine times within one hour at 7.65% coupon rate</h1> A municipal corporation launched its first bond issue worth Rs 25 crore, which was oversubscribed nine times with bids totaling Rs 225 crore within one hour on the stock exchange. The bonds carry a 7.65 percent coupon rate and will fund infrastructure development projects to improve traffic efficiency and commuter convenience. This makes the corporation the youngest municipal body in the country to access bond markets and the fifth urban local body in the state to raise funds through municipal bonds. The corporation will also receive approximately Rs 3.25 crore in interest subsidy under a government scheme.