Mumbai, October 16: Surat Municipal Corporation’s Rs 200 crore green municipal bond was listed on the NSE, with Gujarat Chief Minister Bhupendra Patel ringing the ceremonial bell.
The initiative aims to achieve ‘Net Zero Carbon Emission’ in India by 2070 and is seen as a model for cleanliness and green mobility.
The bond issue has attracted international interest from investors, with Surat Municipal Corporation emerging as a role model for green development. The bonds opened on October 6 and closed on October 9, reaching Rs 800 crore.
The bonds will be allocated through a draw system, with the Municipal Corporation inviting offers for Rs 30 crore, representing 15% of the total bond issue in the retail sector.
