Pune 11th June 2025: The infrastructure facilities being built in the city from the green bond funds of Pimpri-Chinchwad Municipal Corporation will be important. The creation of environmentally friendly green facilities will increase them, asserted Chief Minister Devendra Fadnavis on Tuesday.
Fadnavis inaugurated the green municipal bond listing of Pimpri-Chinchwad Municipal Corporation at the BSE International Convention Hall in Mumbai. He was speaking at the time. Deputy Chief Minister Eknath Shinde, Deputy Chief Minister Ajit Pawar, Pimpri Chinchwad Municipal Corporation Commissioner and Administrator Shekhar Singh, MLA Mahesh Landge, MLA Shankar Jagtap, Legislative Council MLAs Uma Khapre, Amit Gorkhe, Chief Secretary Sujata Saunik, Mumbai Municipal Corporation Commissioner Bhushan Gagrani and others were present on the occasion.
Fadnavis said, "Investors have responded fivefold to the green bond issue. This shows the trust in the state government and the municipal corporation. The municipal corporation should try to raise funds from the capital market as well as the bond market. Prime Minister Narendra Modi is always insistent that they get entry into this sector. Pimpri Chinchwad Municipal Corporation has made the first such attempt in the country."
Chief Secretary Sujata Saunik said, “Growing financial resources is a challenge for municipal corporations due to increasing urbanization. Only eight investors had bid Rs 513 crore in this issue. Therefore, the municipal corporation raised Rs 200 crore from this issue by exercising the green shoe option, along with the original issue amount of Rs 100 crore.”
In this issue, one lakh, rated, registered, transferable, non-convertible, secured and redeemable bonds of Rs 2 lakh each have been issued. It has two tranches, A and B, of Rs 1 lakh each. The maturity of tranche A is four years; while the maturity of tranche B is five years. The issue opened on June 3 and closed on the same day.
Its interest rate will be paid every six months. A lump sum refund will be given at the end of the term. This issue has been rated 'AA Plus Stable' by CARE Rating. AK Capital Services is the lead manager of the issue and SBICap Trustee Company is the debenture trustee, informed Commissioner Shekhar Singh.
Pimpri-Chinchwad Municipal Corporation's Rs 200 crore green bond (green debt securities) was enthusiastically listed on the Mumbai Stock Exchange. It is the first municipal corporation in the state to list such bonds. Chief Minister Fadnavis congratulated Pimpri-Chinchwad Municipal Corporation Commissioner and Administrator Shekhar Singh and all the officers and employees for completing the complicated process of registering its green bond on the stock exchange.
Investors have shown their faith in the Municipal Corporation by investing enthusiastically in this issue. Their response has encouraged us to complete the Municipal Corporation's projects on time. We will complete these projects in the next two years.Shekhar Singh, Commissioner and Administrator, Pimpri-Chinchwad Municipal Corporation
Today is a proud day for the citizens of Pimpri-Chinchwad. Pimpri-Chinchwad Municipal Corporation has become the first municipal corporation in the country to successfully list 'Green Municipal Bonds'. It is getting a good response from investors. These green bonds will be important for the green infrastructure of the city. The central government has received an incentive grant of Rs 20 crore.Mahesh Landge, MLA