Indore mops up Rs 661.52 cr on Day 1 of public issue of green bonds
In a first-of-its-kind initiative in India, the Indore Municipal Corporation (IMC) has garnered Rs 661.52 crore on the first day of a public issue of green bonds to raise capital for setting up a Rs 244 crore solar power plant.
The green bond was oversubscribed by 5.42 times against the base price of Rs 122 crore, an official said.
The public issue will close on Tuesday.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan tweeted, “Congratulation to Indore again! The investors and commoners have overwhelmingly responded to the green bonds of Indore which has bagged India’s cleanest city award for the six consecutive times, and made it number one.”
