The A.P. Mineral Development Corporation Limited (APMDC) was conferred the ‘Best State Linked Issuer’ award by the Associated Chambers of Commerce & Industry of India (ASSOCHAM) at its IX National Summit & Awards on Corporate Bond Market held in Mumbai on August 20.

The award was in recognition of APMDC’s successful mobilisation of ₹9,000 crore through Secured Non-Convertible Debentures, which marked a significant fund-raising initiative by a State -linked entity, an official release said.

The APMDC expressed its gratitude to Chief Minister N. Chandrababu Naidu for his leadership and guidance, and also acknowledged the valuable support extended by the Finance, Industries & Commerce, and Mines & Geology departments and other institutions and agencies that facilitated the successful bond issuance.

APMDC Managing Director Pravin Kumar guided the State PSU in tapping the bond market and the 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 release added.

The ASSOCHAM 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.

The award marked an important milestone for APMDC and was a recognition of its continuing efforts towards best governance practices, regulatory compliance, efficient administration, financial discipline, transparency and corporate governance, the release said.

Published - August 21, 2026 06:44 pm IST