Indore Municipal Corporation raised 300 crores from Green Bond in two and a half hours, CM congratulated
Indore : Making financial innovation in the urban body, green bonds worth Rs 244 crore were issued on Friday morning by Municipal Corporation Indore for setting up a 60 MW solar power plant in Jalud district Khargone. 300 crore was raised through green bonds in just two and a half hours. CM Shivraj Singh Chouhan has congratulated on this achievement.
Mayor Pushyamitra Bhargava and Commissioner Pal told that the green bonds issued by the Corporation through the National Stock Exchange were issued at 10.30 am, which received a good response from the investors, as a result of which green bonds were issued in just 2.30 hours after issue. 300 crores were collected.
Chief Minister Shivraj Singh Chouhan has congratulated Indore for this. He wrote that Indore’s Green Bond, which was number one in cleanliness for 6 consecutive times, was taken by the investors and common man and made number one. The bond was oversubscribed within hours. Indore itself has become a brand. This has been possible only because of the credibility of Indore.
It is noteworthy that Indore is the first city in the country to public issue of Indore Green Bond. Smart investments can be made through green bonds. The price of this brand is Rs 1,000 per bond, with an effective coupon rate of 8.25 % and an effective annual rate of 8.41 %, with AA+ and AA rated bonds. These green bonds were issued to the public from February 10, 2023, the closure period of the said bond was fixed as February 14, 2023., But as soon as the corporation issued the bond, the green issue got oversubscribed in just 2.30 hours.
