Day 1 Of Issue Sees 5.4x Response
The public issue of the non-convertible bonds by Indore Municipal Corporation has a face value of Rs. 1,000 each.
MUMBAI/INDORE Feb 10 (The CONNECT) – The green bonds by Indore Municipal Corporation (IMC) has been oversubscribed 5.42 times on the first day of the issue, garnering Rs 661.52 crore.
The public issue of rated, listed, taxable, secured, redeemable and non-convertible bonds has a face value of Rs. 1,000 each. The base issue size is Rs. 122 crores with an option to retain oversubscription up to Rs. 122 crores, aggregating to Rs. 244 crores.
Going by the base issue size, the Institution category was subscribed the most with 7.52 times, followed by 6.62 times in the corporate category, 4.16 times in the retail category, 3.39 times in the HNI category. The Issue opened on February 10, 2023 and closes Tuesday, February 14, 2023.
The Bonds have been assigned a rating of ‘CARE AA: Stable’ by CARE Ratings Limited and ‘IND AA+/Stable’ by India Ratings & Research Private Limited.
Lead Managers to the Issue are A.K. Capital Services Limited and SBI Capital Markets Limited and Vistra ITCL (India) Limited as trustee. Registrar to the Issue is KFin Technologies Limited.
