Rated by CARE Ratings Limited CARE AA+; Stable
MUMBAI, June 10 (The CONNECT)- Pimpri Chinchwad Municipal Corporation (PCMC) listed its non-convertible green bonds on the BSE today.
The Issue is private placement of up to 10,000 secured, rated, listed, taxable, secured, redeemable, non-convertible green bonds in the nature of debentures of face value of ₹ 2,00,000 each comprising of 2 separately transferable and redeemable principal parts namely 1 STRPP A of face value of ₹ 1,00,000 and 1 STRPP B of face value of ₹ 1,00,000), for an amount of ₹100 crore  with a green shoe option of up to ₹100 crore aggregating up to ₹200 crores.
According to the base issue size, the issue was subscribed 5.13 times when the Issue opened and closed on June 3, 2025.
The Green Bonds have a tenor of 4 years (STRPP A), 5 years (STRPP B), with a fixed coupon, interest payments to be made on a half-yearly basis. The total issue size is ₹200 crore, split equally between two sub-series – STRPP A and STRPP B – each accounting for ₹100 crore or 50% of the total issue. STRPP A will have a tenor of 4 years, while STRPP B will have a tenor of 5 years.
The redemption or maturity date for each sub-series will fall at the end of its respective tenor, calculated from the Deemed Date of Allotment. Accordingly, STRPP A will be redeemed in full at the end of the 4th anniversary, and STRPP B will be redeemed in full at the end of the 5th anniversary. Principal repayment will be made in a single lump-sum instalment for each sub-series—₹100 crore for STRPP A at the end of Year 4, and ₹100 crore for STRPP B at the end of Year 5.
The Green Bonds have been rated by CARE Ratings Limited CARE AA+; Stable (pronounced as Double A Plus; Outlook: Stable) and CRISIL Ratings Limited CRISIL AA+/Stable (pronounced as Provisional CRISIL double A plus rating with Stable outlook).
Dignitaries present to grace the occasion of PCMC Green Bonds listing included Maharashtra Chief Minister Devendra Fadnavis, Deputy CMs Ajit Pawar and Eknath Shinde,
A.K. Capital Services Ltd is the sole Lead Manager to the bonds issue and SBICAP Trustee Company Ltd is the debenture trustee to the issue.
