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Pimpri Chinchwad Municipal Corporation Lists India’s First Municipal Green Bond on BSE

Backed by a Rs20 crore grant, the five-year, AA+ rated issue secured Rs200 crore after a 5.13-times oversubscription, funding eco-friendly infrastructure in Pimpri Chinchwad.

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Overview

  • PCMC held a bell-ringing ceremony at the Bombay Stock Exchange on June 10, 2025, with Chief Minister Devendra Fadnavis and deputy ministers in attendance to mark the listing.
  • The secured non-convertible debentures drew bids worth Rs513 crore in private placement, raising the full Rs200 crore issue in minutes.
  • Credit rating agencies CRISIL and CARE assigned the bonds an ‘AA+’ rating and set a 7.85% interest rate for the five-year tenor.
  • The central government supported the initiative with a Rs20 crore grant as part of its drive for financially independent municipal bodies.
  • Proceeds from the bond will back sustainable projects including the Green Bridge in Nigdi Pradhikaran and the Talco Road development.