APMDC receives ASSOCHAM’s Best State Linked Issuer award for mobilising Rs. 9,000 crore through secured NCDs and strengthening financial governance.
Vijayawada: The Andhra Pradesh Mineral Development Corporation Limited (APMDC) has been conferred the prestigious ‘Best State Linked Issuer’ award at the ASSOCHAM IX National Summit & Awards on Corporate Bond Market held in Mumbai on August 20.
The award recognises APMDC’s successful entry into the corporate bond market and its mobilisation of Rs. 9,000 crore through Secured Non-Convertible Debentures (NCDs). The transaction marks a significant fund-raising initiative by a State-linked public sector entity.
APMDC attributed the achievement to the leadership and guidance of Andhra Pradesh Chief Minister N. Chandrababu Naidu and acknowledged the support extended by the State Finance Department, Industries & Commerce and Mines & Geology departments, along with other institutions involved in the bond issuance.
Under the leadership of Pravin Kumar, IAS, Managing Director, APMDC, the Corporation successfully mobilised Rs. 9,000 crore through secured NCDs, backed by the support of the Government of Andhra Pradesh.
The transaction demonstrated APMDC’s capacity for large-scale resource mobilisation, financial management, regulatory compliance and corporate governance, according to the Corporation.
The award also highlights the mechanisms established by APMDC for debt servicing, financial discipline and administrative oversight.
According to ASSOCHAM, the award nominations were initially assessed by its Knowledge & Evaluation Partner against predefined qualitative and quantitative parameters.
The evaluation covered areas including governance, regulatory compliance, innovation, business excellence, strategic initiatives, operational effectiveness and industry contribution.
APMDC’s governance framework and administrative mechanisms supporting the Rs. 9,000 crore bond issuance were among the factors considered during the evaluation.
The shortlisted nominations were subsequently placed before an independent seven-member jury panel comprising senior representatives from the regulatory, financial and corporate sectors.
The jury assessed the shortlisted organisations on their achievements, governance practices, regulatory and administrative systems, innovation, measurable impact and overall performance before selecting the award recipients.
APMDC said the award represents an important milestone for the Corporation and recognises its efforts towards transparent administration, regulatory compliance, financial discipline and good corporate governance.
The Corporation said the recognition would further strengthen its focus on sustainable development of Andhra Pradesh’s mineral sector and contribute to the State’s broader economic growth.
