The green binds issued by Indore Municipal Corporation was subscribed 5.67 times on day 2 by 2.30 PM on February 13. Click here to subscribe IMC Green Bonds. The offer will close on February 14.
The aggregate size of IMC’s green bond sale is Rs 244 crore comprising a base size of Rs 122 crore and an option to retain oversubscription up to Rs 122 crore.
The green bonds, which have been rated AA+ by India Ratings and AA by Care Ratings have received 7.52 times subscription under QIB category, 6.62 times under corporate category. However, the HNI category was bought 3.40 times and retails category was subscribed 5.13 times of the reserved quota.
The proceeds from Indore’s bond sale are proposed to be used for installation of a 60 MW solar power plant at Khargone district of Madhya Pradesh.
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