Indore plans India's first retail municipal green bond for solar plant

30 Nov 2022 CW Team

Indore is planning to issue the nation’s first local government bond targeting individual investors, with proceeds used to fund a solar power project. Indore Municipal Corp. seeks to raise as much as Rs 2.60 billion ($31.8 million) via a 10-year bond sale next month, according to Divyank Singh, CEO of Indore Smart City, who is working with various stakeholders to finalise the offering.

The offering from Indore, which is in the central state of Madhya Pradesh, is also set to be the country’s maiden municipal green bond designed for retail investors. The issuer has mandated A K Capital Services and SBI Capital Markets as lead managers of the offering, Singh said.

The 60 MW solar plant will be built near Indore at a cost of Rs 3 billion, Singh said, adding that it will help the city save an electricity bill of as much as Rs 250 million a month.

The green debt sale is occurring at a time when the World Bank has estimated that Asia’s third-largest economy will need to invest $840 billion over the next 15 years on urban infrastructure to meet demand from a fast-growing urban population.

Also Read
Indore, Kohima, Warangal win global ‘play city’ awards
UP team visits Indore to study solid waste management

Real Estate

05 May 2026

Sundaram Home Finance Reports FY26 Growth

Sundaram Home Finance reported a 15 per cent increase in net profit for FY26 to Rs 2.82 billion, compared to Rs 2.45 billion in the previous year, supported by steady growth in disbursements and expansion of its emerging business segment.Disbursements rose 5 per cent year-on-year to Rs 68.42 billion, while assets under management (AUM) grew 14 per cent to Rs 199.09 billion as of March 31, 2026.The company’s emerging business segment—comprising affordable housing finance and small-ticket loans—crossed the Rs 5.0 billion disbursement milestone, reaching Rs 5.9 billion in FY26, up from Rs 2..

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..