4 months ago
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The Greater Chennai Corporation (GCC) has raised ₹205.59 crore done its archetypal Green Municipal Bond issuance. According to a property merchandise from the Corporation, it is scheduled to beryllium listed connected the National Stock Exchange (NSE) January 12, 2026.
This is the Corporation’s second municipal enslaved issuance successful the existent fiscal year.
The funds raised done the enslaved volition beryllium utilised for bio-mining and remediation work astatine the Kodungaiyur dumping ground, an ongoing biology infrastructure project. The task covers astir 252 acres of the full 342.91-acre tract and aims astatine the technological removal of bequest coagulated discarded accumulated implicit respective years.
The full outgo of the Kodungaiyur task is ₹648.38 crore, of which the Chennai Corporation’s stock is ₹385.64 crore. Of this, ₹205.59 crore has been raised done the greenish municipal enslaved with a tenure of 10 years astatine an yearly involvement complaint of 7.95%.
The enslaved issuance received beardown capitalist response, with bids worthy ₹501.90 crore submitted done the NSE physics bidding level against a basal contented size of ₹100.03 crore, the merchandise said.
The GCC is eligible to person an inducement assistance of ₹20 crore nether the Union government’s AMRUT 2.0 scheme, which volition trim the outgo of raising funds done greenish municipal bonds, the merchandise added.
