India Infrastructure Finance Company Ltd. (IIFCL) has emerged as a major investor in the ₹200 crore green bond issuance by Pimpri Chinchwad Municipal Corporation (PCMC), subscribing to 50% of the total offering following its Bombay Stock Exchange (BSE) listing on June 10.
🔴 Key Highlights:
- PCMC’s green bond was oversubscribed 5.13 times, reflecting strong investor confidence.
- IIFCL, NaBFID, UCO Bank, AK Capital Services, and Dhanlaxmi Bank were among the key investors.
- NaBFID invested ₹100 crore, while UCO Bank and AK Capital Services subscribed to ₹25 crore each.
- The green bond has a 4-5 year tenure, with fixed coupon interest payments on a half-yearly basis.
- Rated ‘AA+’ by CARE Ratings and CRISIL, the bond aims to fund sustainable urban infrastructure projects.
📢 Maharashtra CM Devendra Fadnavis’ Statement:
“This isn’t just a listing—it’s a message that citizens and investors trust their local bodies when transparency, efficiency, and vision align.”
⚠️ Strategic Impact:
- PCMC becomes India’s first municipal corporation to issue green bonds, setting a new benchmark for urban financing.
- Funds will support eco-friendly projects, including Harit Setu and Telco Road development.
👉 What do you think? Will green bonds revolutionize municipal financing in India? Drop your thoughts in the comments!
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