Telangana govt issues fresh tender for bonds, plans to raise Rs 10,000 crore | Hyderabad News

HYDERABAD: After scrapping the contract for hiring an advisor or a merchant banker to raise bonds in the private market institutions against land parcel securitisation, the state govt issued a new tender on Friday with specific bidding eligibility conditions.
This time, the govt introduced a scoring system for bidders based on their previous expertise in increasing the number of bonds for state govt institutions.Sources said the govt is looking to raise Rs 10,000 crore in this process in the next two months.
Original tender launched on June 23 required that firms bid before July 1, with the proviso that they have previously helped in the issuance of bonds worth Rs 5,000 crore. Later, the bidding conditions were altered, and another updated tender was released, with bidder eligibility confined to Rs 1,500 crore issuance experience on June 28 and a deadline extension to July 6.
On July 1, the govt cancelled the contract, and in the new tender, the govt set July 9 deadline, with the bidding process beginning July 4. This time, firms must participate in both technical and financial bids. To win the bid, they must pass the ‘A’, ‘B’ and ‘C’ qualification stages.