Chief Minister of Gujarat listed the 200 crore municipal green bond of Ahmedabad Municipal Corporation on the Bombay Stock Exchange (BSE) after performing the Bell Ringing Ceremony in Ahmedabad, alongside Mayor, Deputy Mayor, and other senior officials. Ahmedabad Municipal Corporation has opted for the 200 crore municipal green bond initiative to accelerate and achieve the target of Net Zero for Sustainable and Environmentally Friendly Development set by Prime Minister, thereby becoming the first Municipal Corporation in the state to list such a green bond. This Notification was published on 08.02.2024.
This eco-friendly bond, dedicated to promoting sustainable development projects in Ahmedabad city, seeks to expedite the implementation of various environmentally conscious initiatives, such as industrial water purification, renewable energy generation, and zero-liquid discharge systems. The auction for Gujarat’s inaugural municipal eco-bond, valued at 200 crores, commenced on February 5th at 11:00 am, conducted by the Ahmedabad Municipal Corporation on an online bidding platform. In a mere 4 seconds from its opening, subscriptions totaling 415 crores were garnered for Ahmedabad Municipal Corporation’s AA+ credit-rated Green Bond, surpassing the bond’s designated size. By the close of the bidding period, subscriptions amounting to 1360 crore had been secured from 30 distinct investors, resulting in the oversubscription of Ahmedabad Municipal Corporation’s 200 crore green bond by 13.60 times.
