India auctioned Rs.200 billion worth sovereign green bonds in FY24

03 Jun 2024 CW Team

The government auctioned sovereign green bonds worth Rs.200 billion in FY24 as compared to Rs.160 billion in FY23 to mobilise resources for green infrastructure projects, particularly for expanding renewable energy capacity.

Besides, foreign direct investment (FDI) flows towards non-conventional energy surpassed $2 billion for the second consecutive year, the latest edition of the CEEW Centre for Energy Finance (CEEW-CEF) Market Handbook revealed.

It said that the Reserve Bank of India concluded four sovereign green bonds auctions of Rs.200 billion vs Rs.160 billion in FY23, whose proceeds may be used to finance or refinance eligible green projects, it pointed out, adding that all the sovereign green bonds (SGrB) in FY24 were oversubscribed.

The SGrB offerings were 5-year (New SGrB 2028), 10-year (New SGrB 2033) and 30-year (New SGrB 2054 and 7.37 percent SGrB 2054), the CEEW-CEF report said. Apart from the 7.37 percent SGrB 2054, all other offerings’ coupon rates were yield-based which after auctions came out to be 7.25 per cent, 7.24 per cent and 7.37 per cent, respectively, it added. In FY24, the repo rate remained pegged at 6.5.

The SBI MCLR (1-year) rate was increased by 50 basis points twice in FY24, from 8.5 per cent in April 2024 to 8.65 per cent in March 2024, it pointed out.

The proceeds from these bonds are deployed in public sector projects, focusing on sectors such as clean transportation, renewable energy and sustainable water management. This will help reduce the economy’s carbon intensity in line with the commitments made under the nationally determined contributions (NDCs).

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..