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

19 Nov 2024 CW Team

- 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)

Real Estate

14 Oct 2025

GHMC Launches Drive To Boost Property Tax Revenue

The Greater Hyderabad Municipal Corporation (GHMC) has launched a special campaign to enhance property tax revenue from non-residential and commercial properties by reassessing their total built-up area. Any discrepancies identified during inspections will trigger immediate revision of both property tax and trade licence fees, officials said. The initial phase of the drive focuses on shopping malls across Hyderabad, with over 300 such establishments identified in the twin cities. After the mall inspections, GHMC will extend the verification process to other non-residential properties, includi..

Infrastructure Urban

14 Oct 2025

Cholamandalam To Raise Rs 10 Billion Via NCD Issue

Cholamandalam Investment and Finance Company has invited bids to raise up to Rs 10 billion through secured non-convertible debentures (NCDs) maturing on 14 October 2030, offering a coupon rate of 7.58 per cent. The NCD issue, announced on Monday, comes at a time when corporate bond activity — which saw strong momentum in the first quarter of FY26 — has slowed during the second quarter owing to rising borrowing costs. However, market analysts anticipate a rebound in the coming months as easing bond yields could reignite investor appetite for corporate debt instruments. The company’s fu..

Infrastructure Urban

14 Oct 2025

Maharashtra Approves Cluster Redevelopment For Mumbai Slums

The Maharashtra cabinet has approved a cluster redevelopment scheme for Mumbai’s slums, paving the way for large-scale urban renewal and improved living standards across the city’s informal settlements. The decision, taken on 7 October, seeks to convert slum clusters spread over more than 50 acres into integrated housing projects equipped with modern infrastructure and better amenities. To be implemented by the Slum Rehabilitation Authority (SRA), the initiative aims to accelerate redevelopment, attract private investment, and stimulate construction activity. According to a statement from..