Vijayawada, 21 August 2026: Andhra Pradesh Mineral Development Corporation Limited (APMDC), a Government of Andhra Pradesh undertaking, 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 20 August 2026.
The award recognises APMDC’s successful initiative in accessing the corporate bond market and mobilising ₹9,000 crore through Secured Non-Convertible Debentures (NCDs), marking a significant fund-raising initiative by a State-linked entity.
APMDC expressed its sincere gratitude to the Hon’ble Chief Minister of Andhra Pradesh, Sri N. Chandrababu Naidu Garu, for his visionary leadership and guidance. The Corporation also acknowledged the valuable support extended by the Finance Department, Government of Andhra Pradesh; Industries & Commerce / Mines & Geology Department; and other institutions and agencies that facilitated the successful bond issuance.
Recognition for Successful ₹9,000 Crore Bond Issuance
Under the leadership and guidance of Shri Pravin Kumar, IAS, Managing Director, APMDC, the Corporation successfully mobilised ₹9,000 crore through Secured NCDs, backed by the support of the Government of Andhra Pradesh.
The successful transaction demonstrated APMDC’s capability in large-scale resource mobilisation, sound financial management, effective administration, regulatory compliance, good corporate governance and establishment of robust debt-servicing and governance mechanisms.
The recognition as “Best State Linked Issuer” reflects APMDC’s successful initiative in accessing the corporate bond market and reinforces the Corporation’s commitment to financial discipline, transparency, regulatory compliance, good governance, efficient administration and sustainable development of the mineral sector in Andhra Pradesh.
ASSOCHAM Evaluation and Award Selection Process
As per ASSOCHAM’s award framework, the nominations were initially scrutinised by its Knowledge & Evaluation Partner against predefined qualitative and quantitative parameters and performance indicators.
The award selection process considered parameters such as governance, regulatory compliance, administration, innovation, impact, business excellence, strategic initiatives, operational effectiveness and overall contribution towards the growth and development of the industry. APMDC’s performance as an Andhra Pradesh Public Sector Undertaking (AP PSU), including its governance framework, regulatory discipline and administrative mechanisms supporting the successful ₹9,000 crore bond issuance, contributed to its recognition.
Following the initial assessment, shortlisted nominations were placed before an independent seven-member eminent Jury Panel, comprising senior personalities from the regulatory, financial and corporate sectors. The Jury evaluated the achievements, governance practices, regulatory and administrative framework, innovations, measurable impact and overall excellence of the shortlisted organisations before finalising the awardees.
The award marks an important milestone for APMDC and is a recognition of the Corporation’s continuing efforts towards best governance practices, regulatory compliance, efficient administration, financial discipline, transparency and corporate governance as a Government of Andhra Pradesh PSU. It further strengthens APMDC’s commitment to the sustainable growth of the mineral sector and the economic development of Andhra Pradesh.
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