RBI to raise Rs 200 billion through sovereign green bonds in FY 24-25
ECONOMY & POLICY

RBI to raise Rs 200 billion through sovereign green bonds in FY 24-25

The Reserve Bank of India (RBI) has announced plans to raise Rs 200 billion through sovereign green bonds in the second half of the fiscal year 2024-25. The funds will be raised in four equal tranches of Rs 50 billion, with subscription windows and tenors as follows:

- First tranche: November 25-29, 2024, with a 10-year tenor. - Second tranche: December 9-13, 2024, with a 30-year tenor. - Third tranche: January 27-31, 2025, with a 10-year tenor. - Fourth tranche: February 17-21, 2025, with a 30-year tenor.

The RBI has the option to exercise a greenshoe provision of up to Rs 20 billion for each auction. Additionally, 10-year sovereign green bonds will be accessible to Non-Resident Indians (NRIs) via the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar.

This follows the government’s initial sovereign green bond issuance of Rs 160 billion completed in February 2023. The funds raised through green bonds are earmarked for public sector projects across nine sectors, including renewable energy, sustainable water management, clean transportation, and pollution control, aimed at reducing the economy's carbon intensity.

In a related development, NSE Indices launched India’s first sovereign green bond indices in March 2023, the Nifty India Sovereign Green Bond Jan 2028 and Jan 2033 Indices, to track the performance of these securities.

The Securities and Exchange Board of India (SEBI) has also introduced regulatory protocols for listing green debt securities, including provisions for ‘yellow bonds,’ which focus on solar energy projects and related industries. The partnership with CleanMax highlights the increasing trend of companies transitioning to renewable energy to meet sustainability goals. CleanMax has been active in similar collaborations, including developing a 125.4 MW wind-solar hybrid project for Google and a 33 MW renewable energy project for Equinix to power their Indian operations. (Mercom)

The Reserve Bank of India (RBI) has announced plans to raise Rs 200 billion through sovereign green bonds in the second half of the fiscal year 2024-25. The funds will be raised in four equal tranches of Rs 50 billion, with subscription windows and tenors as follows: - First tranche: November 25-29, 2024, with a 10-year tenor. - Second tranche: December 9-13, 2024, with a 30-year tenor. - Third tranche: January 27-31, 2025, with a 10-year tenor. - Fourth tranche: February 17-21, 2025, with a 30-year tenor. The RBI has the option to exercise a greenshoe provision of up to Rs 20 billion for each auction. Additionally, 10-year sovereign green bonds will be accessible to Non-Resident Indians (NRIs) via the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar. This follows the government’s initial sovereign green bond issuance of Rs 160 billion completed in February 2023. The funds raised through green bonds are earmarked for public sector projects across nine sectors, including renewable energy, sustainable water management, clean transportation, and pollution control, aimed at reducing the economy's carbon intensity. In a related development, NSE Indices launched India’s first sovereign green bond indices in March 2023, the Nifty India Sovereign Green Bond Jan 2028 and Jan 2033 Indices, to track the performance of these securities. The Securities and Exchange Board of India (SEBI) has also introduced regulatory protocols for listing green debt securities, including provisions for ‘yellow bonds,’ which focus on solar energy projects and related industries. The partnership with CleanMax highlights the increasing trend of companies transitioning to renewable energy to meet sustainability goals. CleanMax has been active in similar collaborations, including developing a 125.4 MW wind-solar hybrid project for Google and a 33 MW renewable energy project for Equinix to power their Indian operations. (Mercom)

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code