**Executive Summary**
This press release announces that the Securities and Exchange Board of India (SEBI) held a Municipal Bond and REIT/InvIT Outreach Programme in Raipur, Chhattisgarh, on October 30, 2025. The programme aimed to empower Urban Local Bodies (ULBs) with knowledge on municipal bonds, REIT/InvITs, and capital market fundraising for infrastructure development. A follow-up meeting was held on October 31, 2025, and the release was published on November 6, 2025.
**Key Points / Main Content**
* **Outreach Programme Details:**
* Organized by SEBI in Raipur, Chhattisgarh on October 30, 2025.
* Targeted Urban Local Bodies (ULBs) and state government departments.
* Focused on municipal bonds, REIT/InvITs, and capital market fundraising.
* Featured sessions to prepare State and ULBs to access securities market, insights on investor expectations, and alternative financing opportunities.
* Included senior officials from 14 ULBs.
* The Municipal Corporation of Raipur announced raising of funds worth INR 100 Crore through municipal bonds on October 24, 2025.
* **Follow-up Meeting:**
* Held on October 31, 2025, between SEBI officials and officials from ULBs of Chhattisgarh, led by key government officials.
* SEBI addressed concerns of municipal corporations regarding participation in the bond market.
* Discussed measures to enhance urban local bodies' participation in the bond market.
* **SEBI's Goals:**
* Drive transparency, market readiness, and sustainable urban finance.
* Help state governments and ULBs adopt best practices for infrastructure funding.
**Impact Analysis**
**Stakeholder: Urban Local Bodies (ULBs) of Chhattisgarh**
**Impact:**
* Empowered with knowledge and insights on municipal bonds, REIT/InvITs, and capital market fundraising.
* Received guidance on accessing the securities market and alternative financing options.
**Action Required:**
* Focus on their financials.
* Develop projects to enhance revenue.
* Train staff to raise funds through municipal bonds.
**Stakeholder: State Government of Chhattisgarh**
**Impact:**
* Informed of opportunities to utilize municipal bonds and REIT/InvITs for infrastructure development.
* Gained insights into investor expectations and best practices for sustainable urban finance.
**Action Required:**
* Work with SEBI to enhance participation of ULBs in the bond market.
* Adopt best practices for infrastructure funding.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): Regulator hosting a Municipal Bond and REIT/InvIT Outreach Programme.
REIT/InvIT: Real Estate Investment Trust/Infrastructure Investment Trust - financial instruments discussed in the outreach programme.
Municipal Bond: A type of bond discussed as a means of financing urban infrastructure projects.
Raipur, Chhattisgarh: Location of the Municipal Bond and REIT/InvIT Outreach Programme.
Urban Local Bodies (ULBs): The target audience of the outreach program, aiming to empower them with knowledge and insights on municipal bonds and REIT/InvITs.
PR No.68/2025
SEBI Hosts Municipal Bond and REIT/InvIT Outreach Programme in Raipur
to Boost Urban Infrastructure Financing
Securities and Exchange Board of India (SEBI) organized a Municipal Bond and
REIT/InvIT Outreach Programme in Raipur, Chhattisgarh on October 30 2025,
aimed at empowering Urban Local Bodies (ULBs), department of state government
with knowledge and insights on municipal bonds, REIT/InvITs and capital market
fundraising for infrastructure development.
The outreach programme saw participation of senior officials from 14 Urban Local
Bodies including from Raipur, Bilaspur, Bhilai, Raigarh along with officials from
Urban Administration and Development and Finance Department of Govt. of
Chhattisgarh, State Urban Development Agency. The outreach programme was
very timely as Municipal Corporation of Raipur, announced raising of funds worth
INR 100 Crore through municipal bonds on October 24, 2025. The programme
featured dedicated sessions to prepare State and ULBs to access the securities
market through municipal bonds and REIT/InvIT, insights on investor expectations
and case studies on Alternative Financing opportunities for urban infrastructure.
Addressing the participants, Amarjeet Singh, Whole Time Member, SEBI,
highlighted the transformative role of municipal bonds in financing scalable urban
infrastructure projects and potential of public assets monetization through
REIT/InvIT for accelerating urban development.
Page 1 of 2Sheetal Shashwat Verma, Special Secretary, Finance Department and Director,
Directorate of Institutional Finance, Govt. of Chhattisgarh, in her address
highlighted the need for urban local bodies to focus on their financials, come up
with projects to enhance revenue and training of staff to raise funds through
municipal bonds.
A meeting was also held on October 31, 2025 between SEBI led by Amarjeet
Singh, Whole Time Member and officials of urban local bodies of Chhattisgarh led
by Basavaraju S (Secretary to CM & Urban Admin and Development, Govt. of
Chhattisgarh), and Sheetal Shashwat Verma (Special Secretary, Finance
Department and Director, Directorate of Institutional Finance, Govt. of CG). In this
meeting, SEBI addressed the specific queries and concerns of municipal
corporations and discussed various measures state government and SEBI can
take to enhance participation of urban local bodies in bond market.
This initiative reaffirms SEBI’s ongoing drive towards transparency, market
readiness, and sustainable urban finance, helping state governments and ULBs
nationwide to adopt best practices for infrastructure funding through securities
markets.
Mumbai
November 06, 2025
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