APMDC Wins ‘Best State Linked Issuer’ Award

The Andhra Pradesh Mineral Development Corporation Limited (APMDC), a state-owned enterprise of the Andhra Pradesh government, has received the prestigious ‘Best State Linked Issuer’ award for its successful mobilisation of funds through the corporate bond market.

The award was presented at the ASSOCHAM–9th National Summit and Awards on Corporate Bond Market, held in Mumbai on August 20. APMDC earned the recognition after raising ₹9,000 crore through secured non-convertible debentures (NCDs), marking a significant milestone for a state-linked entity in accessing the corporate bond market at such a scale.

The fund-raising exercise was carried out under the leadership of APMDC Managing Director Praveen Kumar, IAS, with support from the state government. The corporation said the successful transaction reflected its focus on sound financial management, effective administration, regulatory compliance and corporate governance.

The establishment of appropriate mechanisms to ensure timely debt servicing also played an important role in strengthening the organisation’s financial framework. APMDC described the award as recognition of its ability to leverage the corporate bond market while maintaining financial discipline and transparency.

The corporation said the honour also underlined its commitment to good governance and the sustainable development of Andhra Pradesh’s mineral sector.

The ASSOCHAM awards followed a structured evaluation process in which nominations were assessed against predefined qualitative and quantitative parameters and performance indicators. After an initial assessment, shortlisted organisations were examined by an independent seven-member jury comprising professionals from the regulatory, financial and corporate sectors.

The jury evaluated the nominees on their achievements, governance practices, regulatory systems, innovation, impact and overall performance before finalising the winners.

APMDC credited the achievement to the leadership and guidance of its board of directors, along with the efforts of its employees and the support extended by bankers, arrangers, credit-rating agencies, the debenture trustee, stock exchanges and other stakeholders.

The award, the corporation said, represents not only recognition of the ₹9,000-crore fund-raising exercise but also the collective effort behind building a robust and transparent financial framework for the organisation.