After generating ₹720 cr, Indore's green bonds now listed on NSE

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.

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.