The issue has a face value of Rs 1,000 each. The base issue size is Rs 122 crore with an option to retain oversubscription up to Rs 122 crore, aggregating up to Rs 244 crore.
The institution/QIB category was subscribed the most with 7.52 times, followed by 6.71 times in the corporate category, 3.62 times in the HNI category. The issue opened on February 10 and closed on February 14.
Meanwhile, the debutant retail category was oversubscribed 5.78 times with a collection of Rs 176.33 crore, according to an official statement.
The issue saw a robust demand among institutional and corporate category of investors with a total collection of Rs 229 crore, and Rs 204 crore, respectively. The HNI category garnered Rs 110.50 crore.
“The green bonds have a tenor of 3 years (STRPP A), 5 years (STRPP B), 7 years (STRPP C) and 9 years (STRPP D). Effective yield (per annum) for NCD holders in Category I (QIB), Category II (Corporate), Category III (HNI) and Category IV (Retail Individual) for tenor 3 years, 5 years and 7 years is 8.41% and for STRPP D with 9 years tenor is 8.42%. Interest payments are through various modes, i.e., Direct Credit, NACH, RTGS, NEFT and Registered Post/Speed Post,” according to an official press release.
The green bonds have been assigned a rating of ‘CARE AA: Stable’ by and ‘IND AA+/Stable’ by India Ratings & Research.The lead managers to the issue are and Capital Markets and Vistra ITCL (India) as trustee. Registrar to the Issue is KFin Technologies.
Indore Municipal Corporation is the chief municipal body of Indore city and currently Pushyamitra Bhargav is the Mayor and Pratibha Pal is the Commissioner of the issuer.
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