Pimpri Chinchwad Launches Maharashtra's First Green Bonds Worth Rs 200 Crore

Pimpri Chinchwad Municipal Corporation issued Rs 200 crore in Green Bonds, marking Maharashtra’s first such listing and India’s fourth. Oversubscribed by over five times, the bonds will fund the Harit Setu project, a 12-year plan for a modern, inclusive road network. The municipal leadership celebrated the listing success.

Devdiscourse News Desk | Mumbai | Updated: 10-06-2025 20:03 IST | Created: 10-06-2025 20:03 IST

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The Pimpri Chinchwad Municipal Corporation (PCMC) marked a significant milestone by listing its Rs 200 crore Green Bonds on the Bombay Stock Exchange (BSE) on Tuesday.

The event was attended by notable figures, including Maharashtra Chief Minister Devendra Fadnavis and deputy chief ministers Eknath Shinde and Ajit Pawar. These bonds, Maharashtra's first and the country's fourth after similar initiatives in Indore, Surat, and Ghaziabad, have a tenure of 4 to 5 years.

Municipal Commissioner Sehkahr Singh announced that the bonds, which were oversubscribed 5.13 times by eight investors, will fund the Harit Setu project. This initiative, part of a 12-year master plan, aims to develop an inclusive modern road network. The issue was a private placement, comprising 10,000 secured and redeemable debentures, which opened and closed on June 3, 2025.

(With inputs from agencies.)