Nashik Municipal Corporation (NMC), the civic authority governing Nashik city, has announced the launch of its maiden public issue of Green Municipal Bonds, marking a significant step toward financing sustainable urban infrastructure.
The issue consists of rated, listed, taxable, unsecured and redeemable non-convertible green municipal bonds, structured in the form of debentures with a face value of ₹1,000 each. Each debenture will be divided into eight separately transferable and redeemable principal parts (STRPPs).
These STRPPs are classified as STRPP A, STRPP B, STRPP C, STRPP D, STRPP E, STRPP F, STRPP G and STRPP H, with each component carrying a face value of ₹125.
The green bonds will offer a coupon rate of 8.05% per annum, with interest payments scheduled half-yearly. The issue provides an effective yield of 8.20% per annum across all categories of investors.
The offering is open to three investor segments:
- Category I – Institutional Investors
- Category II – Non-Institutional Investors
- Category III – Retail Individual Investors
Through this green bond issuance, Nashik Municipal Corporation aims to strengthen funding for environmentally responsible infrastructure initiatives while also providing investors with an opportunity to participate in sustainable urban development.
