PCMC Lists Rs 200 Cr Green Bonds on BSE

Mumbai, Jun 10 (PTI) The Rs 200 crore Green Bonds issued by the Pimpri Chinchwad Municipal Corporation (PCMC) were listed on the BSE on Tuesday.

The listing event was attended by Maharashtra Chief Minister Devendra Fadnavis and deputy chief ministers Eknath Shinde and Ajit Pawar, among others.

The Green Bonds, which are Maharashtra's first and the country fourth after Indore, Surat and Ghaziabad Municipal Corporations issued similar bonds, have a tenor of 4 and 5 years.

"PCMC, launched Rs 200 crore bond, which was oversubscribed about 5.13 times eight investors showed confidence in PCMC. The project for which we've raised this green bond is called Harid Setu. We finally ended up raising about Rs 200 crore for the entire project which we will deliver in the next two years," said Municipal Commissioner of Pimpri Chinchwad Municipal Corporation, Sehkahr Singh.

The Issue was private placement of up to 10,000 secured, rated, listed, taxable, secured, redeemable, non-convertible green bonds in the nature of debentures of face value of Rs 2,00,000 each, comprising of two separately transferable and redeemable principal parts. The issue opened and closed on June 3, 2025.

Harit Setu is a Master Plan for the next 12 years and focuses on creating a modern road network adhering to international standards, designed to meet the needs of all citizens, including pedestrians, cyclists, and public transport.

The project will also be one of the first proof of concept of the last mile, first mile connectivity that we often talk about, he said.