A week after the closing subscriptions for the public offering and receiving an overwhelming response through it, IMC’s green bonds have now been listed on the National Stock Exchange (NSE) on February 21, Tuesday. Moreover, the listing was announced in Bhopal during an exclusive ceremony in presence of the MP Chief Minister and other dignitaries.
Notably, the authority was able to raise a whopping amount of ₹720 crores through the public issue which was 5.90 times the base size of the bonds.
Additional plans to allocate funds from the green bonds
ग्रीन बॉण्ड धरती को बचाने का महा अभियान है। इंदौर नगर निगम ने 244 करोड़ रुपये के लिए ग्रीन बाण्ड जारी किया और लोगों ने 720 करोड़ रुपये निवेश कर दिये।
भोपाल में आज इंदौर नगर निगम के पब्लिक #GreenBond के लिस्टिंग कार्यक्रम में सहभागिता की।https://t.co/QVSpzk6s2q https://t.co/SLpSRpszkg pic.twitter.com/W9vNoZgzyN
— Shivraj Singh Chouhan (@ChouhanShivraj) February 21, 2023
The civic body currently spends about ₹300 crores a year on electricity to bring Narmada water from Jalud to Indore and to pump it to every household in the city. The funds from these bonds will be utilized for the construction of a 60-megawatt solar plant at Jalud Pumping Station which will further be utilized for supplying water to Indore.
Incidentally, The authorities have additional plans to transition to renewable energy by generating an extra 40 MW of power at the Jalud Pumping station, which will be allocated for powering streetlights and public gardens.
Indore’s ambitious solar plant project funded by ₹720 cr through green bonds
