Indore | The ‘green bond’ launched recently by the Indore Municipal Corporation was on Tuesday listed on the National Stock Exchange at a function chaired by Chief Minister Shivraj Singh Chouhan in Bhopal. Chouhan symbolically rang the NSE bell to list the bond and congratulated IMC, city administration and the people for the feat. The city had shown the way to others, he said, adding that such bonds would be issued by civic bodies of five more cities soon.
Shankar Lalwani, MP, Mayor Pushyamitra Bhargava, Principal Secretary Neeraj Mandloi, Commissioner Pratibha Pal and Additional Commissioner Divyank Singh were also present.
The ‘green bond’ oversubscribed by 5.42 times garnering Rs 720.25 crore.
According to IMC officials, the bond was issued to acquire funds for setting up a 60 MW captive solar power plant worth about Rs 244 crore on about 100 acres.
Presently, IMC is using conventional electricity to operate pumps to bring drinking water from the Narmada to the city, about 80 km away. It spends about Rs 300 crore annually to operate these pumps, which pull the water from Jalud in neighbouring Khargone district. KK Jha
