Overview

• The Rs 670 crore, five‑year green bond carries an 8.50% coupon with quarterly amortisation and is listed on the NSE.
• A 65% guarantee from GuarantCo, part of the PIDG, lifted the issue to AA+ (CE) from CRISIL and ICRA.
• Proceeds will fund solar, wind and hybrid projects in Gujarat expected to serve about 210,000 people and avoid roughly 344,000 tCO2e annually.
• Aseem Infrastructure Finance took the majority of the issue, with Jio Finance and SBI Capital Markets subscribing to the rest, and SBICAP acting as arranger.
• Separately, KPI Green expects a Rs 3,200 crore State Bank of India loan at 8.45% over 20 years, with phased disbursement over roughly 18 months.