{"id":9890,"date":"2025-09-30T09:24:55","date_gmt":"2025-09-30T09:24:55","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=9890"},"modified":"2026-04-14T11:18:19","modified_gmt":"2026-04-14T11:18:19","slug":"surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/","title":{"rendered":"Surat Municipal Corporation NCD IPO- October 2025, should you invest?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#High_Yield_AAStable_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0|\u00a0AA+\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Bond_overview\" >Bond overview\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Coupon_rates_and_effective_yield_for_each_of_the_series\" >Coupon rates and effective yield for each of the series\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Investment_Process_for_Surat_Municipal_Corporation_NCD_IPO\" >Investment Process for Surat Municipal Corporation NCD IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Financial_Overview\" >Financial Overview<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Snapshot_stating_the_Revenue_Expenses_Net_Worth_and_PAT_In_crores\" >Snapshot stating the Revenue, Expenses, Net Worth and PAT (In crores)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Cash_flow_for_last_few_years_In_crores\" >Cash flow for last few years (In crores)<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Issue_analysis\" >Issue analysis<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Pros\" >Pros\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Cons\" >Cons<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Liquidity\" >Liquidity<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#About_Surat_Municipal_Corporation\" >About Surat Municipal Corporation<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Weakness\" >Weakness<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#Invest_in_Bond_IPO_online_in_just_5_minutes\" >Invest in Bond IPO online in just 5 minutes<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"High_Yield_AAStable_Rated_Minimum_Investment_10k_Only\"><\/span><strong>High Yield\u00a0|\u00a0AA+\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bond_overview\"><\/span><b>Bond overview\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Surat Municipal Corporation is offering secured, redeemable Non-Convertible Debentures (NCDs) that carry a provisional &#8216;<a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/list-of-aa-rated-bonds\/\">AA+\/Stable&#8217;<\/a> credit rating from CRISIL. The issuance comprises two STRPPS* with distinct tenors of 4 and 5 years, each having a face value of \u20b9500.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">*<\/span><span style=\"font-weight: 400;\">STRPPS are a financial structure where the principal of a bond is repaid in several tranches over time. Each scheduled principal repayment is classified as a distinct, tradable security, allowing investors to buy and sell rights to these specific future cash flows separately.<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9891 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071316\/Screenshot-2025-09-29-134244.png\" alt=\"\" width=\"662\" height=\"790\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071316\/Screenshot-2025-09-29-134244.png 662w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071316\/Screenshot-2025-09-29-134244-251x300.png 251w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071316\/Screenshot-2025-09-29-134244-585x698.png 585w\" sizes=\"(max-width: 662px) 100vw, 662px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><b>Coupon rates and effective yield for each of the series\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-large wp-image-9892 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-1024x561.png\" alt=\"\" width=\"1024\" height=\"561\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-1024x561.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-300x164.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-768x421.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-1536x842.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-2048x1123.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-1170x641.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-1920x1053.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071347\/Picture1-1-585x321.png 585w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><b>Allocation Ratio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for Surat Municipal Corporation NCD-IPO.\u00a0<\/span><\/p>\n<h4><img decoding=\"async\" class=\"size-large wp-image-9893 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1-1024x799.png\" alt=\"\" width=\"1024\" height=\"799\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1-1024x799.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1-300x234.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1-768x599.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1-1536x1198.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1-1170x913.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1-585x456.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071413\/Picture2-1.png 1859w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h4>\n<h2><span class=\"ez-toc-section\" id=\"Investment_Process_for_Surat_Municipal_Corporation_NCD_IPO\"><\/span><b>Investment Process for <\/b><b>Surat Municipal Corporation<\/b><b> NCD IPO<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in these easy steps.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9201 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png\" alt=\"\" width=\"576\" height=\"218\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png 576w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow-300x114.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Overview\"><\/span><b>Financial Overview<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Snapshot_stating_the_Revenue_Expenses_Net_Worth_and_PAT_In_crores\"><\/span><b>Snapshot stating the Revenue, Expenses, Net Worth and PAT (In crores)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\"size-large wp-image-9894 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-1024x592.png\" alt=\"\" width=\"1024\" height=\"592\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-1024x592.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-300x173.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-768x444.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-1536x887.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-1170x676.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-1920x1109.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F-585x338.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071502\/Picture2F.png 2008w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Cash_flow_for_last_few_years_In_crores\"><\/span><b>Cash flow for last few years (In crores)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\"size-full wp-image-9895 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071523\/Screenshot-2025-09-29-142032.png\" alt=\"\" width=\"1021\" height=\"697\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071523\/Screenshot-2025-09-29-142032.png 1021w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071523\/Screenshot-2025-09-29-142032-300x205.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071523\/Screenshot-2025-09-29-142032-768x524.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/30071523\/Screenshot-2025-09-29-142032-585x399.png 585w\" sizes=\"(max-width: 1021px) 100vw, 1021px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">*Cash flow from operating activities reflects the amount a company generates through its product of services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">**Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects <\/span><span style=\"font-weight: 400;\">the net flows of cash that are used to fund the company.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Issue_analysis\"><\/span><b>Issue analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Pros\"><\/span><strong>Pros\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strong Credit Rating<\/b><span style=\"font-weight: 400;\">: Provisionally rated <\/span><b>AA+\/Stable<\/b><span style=\"font-weight: 400;\"> by both CRISIL and India Ratings, indicating high safety and low credit risk.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Secured Structure<\/b><span style=\"font-weight: 400;\">: Bonds are <\/span><b>secured and redeemable<\/b><span style=\"font-weight: 400;\">, with a <\/span><b>minimum 1x security cover<\/b><span style=\"font-weight: 400;\"> and a <\/span><b>Debt Service Reserve Account (DSRA)<\/b><span style=\"font-weight: 400;\"> equivalent to one year\u2019s interest obligation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Attractive Coupon<\/b><span style=\"font-weight: 400;\">: Both STRPP A (4 years) and STRPP B (5 years) carry an <\/span><b>8% <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/what-is-coupon\/\">coupon<\/a><\/b><span style=\"font-weight: 400;\">, competitive compared to FDs (5\u20137.8%).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Green Bond Incentives<\/b><span style=\"font-weight: 400;\">: Issuance under the <\/span><b>AMRUT 2.0 framework<\/b><span style=\"font-weight: 400;\">, with eligibility for central government incentives for green municipal bonds.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Listing Benefit<\/b><span style=\"font-weight: 400;\">: Proposed to be listed on <\/span><b>NSE and BSE<\/b><span style=\"font-weight: 400;\">, improving liquidity for investors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Use of Proceeds<\/b><span style=\"font-weight: 400;\">: Proceeds earmarked for sustainable infrastructure projects (solar, wind, e-bus depot, waste processing, water treatment), aligning with ESG-focused investments.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Cons\"><\/span><strong>Cons<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Municipal Risk Profile<\/b><span style=\"font-weight: 400;\">: Unlike corporate issuers, municipal corporations depend heavily on tax\/non-tax revenues and grants; delays or shortfalls in collection could affect servicing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>No Underwriting<\/b><span style=\"font-weight: 400;\">: The issue is <\/span><b>not underwritten<\/b><span style=\"font-weight: 400;\">, so subscription levels depend fully on market demand.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Project Execution Risk<\/b><span style=\"font-weight: 400;\">: Funds are tied to multiple infrastructure projects; delays, cost overruns, or regulatory hurdles could impact repayment capacity.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Interest Rate Risk<\/b><span style=\"font-weight: 400;\">: If market rates rise significantly over 4\u20135 years, the fixed 8% coupon may become less attractive.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Limited Investor Base<\/b><span style=\"font-weight: 400;\">: While open to retail, institutional appetite will largely drive liquidity and secondary market performance.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Liquidity\"><\/span><b>Liquidity<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>Superior Liquidity<\/b><span style=\"font-weight: 400;\">: Unencumbered cash and bank balance of <\/span><b>\u20b91,000+ crore<\/b><span style=\"font-weight: 400;\"> as of July 31, 2025, along with healthy annual revenue surplus (~\u20b9909 crore). Liquidity is expected to remain strong and sufficient to meet debt obligations while partly funding capex.<\/span><\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><b>To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"About_Surat_Municipal_Corporation\"><\/span><b>About Surat Municipal Corporation<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><b>Surat Municipal Corporation (SMC)<\/b><span style=\"font-weight: 400;\">, established in <\/span><b>1966<\/b><span style=\"font-weight: 400;\">, governs Surat\u2014India\u2019s 8th largest city and a major hub for textiles and diamonds. Backed by strong finances, SMC reported a <\/span><b>revenue surplus of \u20b9909 crore in FY2025<\/b><span style=\"font-weight: 400;\"> and maintained <\/span><b>cash &amp; bank balances exceeding \u20b91,000 crore<\/b><span style=\"font-weight: 400;\"> with <\/span><b>~92% property tax collection efficiency<\/b><span style=\"font-weight: 400;\">. Recognized for efficient civic services and innovative green initiatives, SMC is among the few Indian municipalities to successfully issue <\/span><b>AA+\/Stable rated <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/municipal-bonds\/\">municipal bonds<\/a><\/b><span style=\"font-weight: 400;\"><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/municipal-bonds\/\">,<\/a> funding over <\/span><b>\u20b910,000 crore<\/b><span style=\"font-weight: 400;\"> worth of planned infrastructure under AMRUT and Smart City projects.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><b>Strengths<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><b>Robust Operating Surplus<\/b><span style=\"font-weight: 400;\">: Revenue surplus of <\/span><b>\u20b9909 crore in FY2025<\/b><span style=\"font-weight: 400;\"> (vs \u20b9832 crore in FY2024), supported by higher tax rates and increased user charges.<\/span><\/li>\n<li><b>Escrow &amp; DSRA Mechanism<\/b><span style=\"font-weight: 400;\">: Bond repayment secured via <\/span><b>escrowed revenues<\/b><span style=\"font-weight: 400;\"> and <\/span><b>DSRA<\/b><span style=\"font-weight: 400;\"> (Debt Service Reserve Account) equivalent to one year\u2019s interest, ensuring strong debt protection.<\/span><\/li>\n<li><b>Strong Collection Efficiency<\/b><span style=\"font-weight: 400;\">: Property tax collection efficiency at <\/span><b>~92% in FY2025<\/b><span style=\"font-weight: 400;\">, reflecting effective civic systems and reliable cash flow.<\/span><\/li>\n<li><b>Debt-Free Position<\/b><span style=\"font-weight: 400;\">: As of July 31, 2025, <\/span><b>no outstanding debt<\/b><span style=\"font-weight: 400;\">; cash and bank balances, including fixed deposits, exceeded <\/span><b>\u20b91,000 crore<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Weakness\"><\/span><b>Weakness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High Dependence on State Grants<\/b><span style=\"font-weight: 400;\">: Grants and compensation from the state still form a key revenue component, though reduced to <\/span><b>21% in FY2024<\/b><span style=\"font-weight: 400;\"> from 45% in FY2013. In FY2025, SMC received <\/span><b>\u20b9790 crore<\/b><span style=\"font-weight: 400;\"> as octroi compensation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Large Capex Burden<\/b><span style=\"font-weight: 400;\">: Planned projects under AMRUT, Dumas sea development, barrages, etc., estimated at <\/span><b>~\u20b910,000 crore over five fiscals<\/b><span style=\"font-weight: 400;\">. Rising capex may increase debt and pressure financial risk profile.<\/span><\/li>\n<\/ul>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><b>Invest in Bond IPO online in just 5 minutes<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><span style=\"font-weight: 400;\"><strong>Source &#8211;<\/strong> Offer Document, September 18, 2025<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Disclaimer &#8211;<\/strong> The information is published as on date 30\/09\/2025 based on information available on Offer Document, September 18, 2025. The information may be subject to change in case of change in terms of prospectus or any other reason as the case maybe. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0|\u00a0AA+\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only \u00a0 Bond overview\u00a0 Surat Municipal Corporation is offering secured, redeemable Non-Convertible Debentures (NCDs) that carry a&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-9890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Surat Municipal Corporation NCD IPO- October 2025, should you invest? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"Surat Municipal Corporation NCD IPO- October 2025, should you invest?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Surat Municipal Corporation NCD IPO- October 2025, should you invest? - GoldenPi | Blogs\" \/>\n<meta property=\"og:description\" content=\"Surat Municipal Corporation NCD IPO- October 2025, should you invest?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/\" \/>\n<meta property=\"og:site_name\" content=\"GoldenPi | Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goldenpitech\" \/>\n<meta property=\"article:author\" content=\"goldenpitech\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-30T09:24:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-14T11:18:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png\" \/>\n\t<meta property=\"og:image:width\" content=\"731\" \/>\n\t<meta property=\"og:image:height\" content=\"347\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:site\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/\",\"url\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/\",\"name\":\"Surat Municipal Corporation NCD IPO- October 2025, should you invest? - GoldenPi | Blogs\",\"isPartOf\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png\",\"datePublished\":\"2025-09-30T09:24:55+00:00\",\"dateModified\":\"2026-04-14T11:18:19+00:00\",\"author\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722\"},\"description\":\"Surat Municipal Corporation NCD IPO- October 2025, should you invest?\",\"breadcrumb\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#primaryimage\",\"url\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png\",\"contentUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png\",\"width\":731,\"height\":347,\"caption\":\"Surat Municipal Corporation NCD IPO October 2025\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/goldenpi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Surat Municipal Corporation NCD IPO- October 2025, should you invest?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\",\"url\":\"https:\/\/goldenpi.com\/blog\/\",\"name\":\"GoldenPi | Blogs\",\"description\":\"All about bonds online in India\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/goldenpi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722\",\"name\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"caption\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\"},\"description\":\"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.\",\"sameAs\":[\"goldenpitech\",\"https:\/\/www.linkedin.com\/company\/goldenpi\/\",\"https:\/\/x.com\/GoldenPiTech\"],\"url\":\"https:\/\/goldenpi.com\/blog\/author\/goldenpi\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Surat Municipal Corporation NCD IPO- October 2025, should you invest? - GoldenPi | Blogs","description":"Surat Municipal Corporation NCD IPO- October 2025, should you invest?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/","og_locale":"en_US","og_type":"article","og_title":"Surat Municipal Corporation NCD IPO- October 2025, should you invest? - GoldenPi | Blogs","og_description":"Surat Municipal Corporation NCD IPO- October 2025, should you invest?","og_url":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/","og_site_name":"GoldenPi | Blogs","article_publisher":"https:\/\/www.facebook.com\/goldenpitech","article_author":"goldenpitech","article_published_time":"2025-09-30T09:24:55+00:00","article_modified_time":"2026-04-14T11:18:19+00:00","og_image":[{"width":731,"height":347,"url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png","type":"image\/png"}],"author":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","twitter_card":"summary_large_image","twitter_creator":"@GoldenPiTech","twitter_site":"@GoldenPiTech","twitter_misc":{"Written by":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/","url":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/","name":"Surat Municipal Corporation NCD IPO- October 2025, should you invest? - GoldenPi | Blogs","isPartOf":{"@id":"https:\/\/goldenpi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#primaryimage"},"image":{"@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#primaryimage"},"thumbnailUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png","datePublished":"2025-09-30T09:24:55+00:00","dateModified":"2026-04-14T11:18:19+00:00","author":{"@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722"},"description":"Surat Municipal Corporation NCD IPO- October 2025, should you invest?","breadcrumb":{"@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#primaryimage","url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png","contentUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/09\/26134832\/Surat-Municipal-Corporation-NCD-IPO-%E2%80%93-Should-You-Invest_-October-2025.png","width":731,"height":347,"caption":"Surat Municipal Corporation NCD IPO October 2025"},{"@type":"BreadcrumbList","@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/surat-municipal-corporation-ncd-ipo-october-2025-should-you-invest\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/goldenpi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Surat Municipal Corporation NCD IPO- October 2025, should you invest?"}]},{"@type":"WebSite","@id":"https:\/\/goldenpi.com\/blog\/#website","url":"https:\/\/goldenpi.com\/blog\/","name":"GoldenPi | Blogs","description":"All about bonds online in India","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/goldenpi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722","name":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","caption":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi"},"description":"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.","sameAs":["goldenpitech","https:\/\/www.linkedin.com\/company\/goldenpi\/","https:\/\/x.com\/GoldenPiTech"],"url":"https:\/\/goldenpi.com\/blog\/author\/goldenpi\/"}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/9890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/comments?post=9890"}],"version-history":[{"count":4,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/9890\/revisions"}],"predecessor-version":[{"id":13005,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/9890\/revisions\/13005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media\/12312"}],"wp:attachment":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media?parent=9890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/categories?post=9890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/tags?post=9890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}