22 hrs ago
NABKISAN Lists India’s First WASH-Focused Social Bond
NABKISAN has issued a bond to raise money for water, sanitation and hygiene projects.
It is the first Indian social bond devoted only to these needs.
The bond was listed on the National Stock Exchange.
Investors wanted to buy more than the amount being offered, so the issue was oversubscribed 1.8 times.
NABKISAN raised Rs 180 crore.
The bond pays an 8.10 per cent coupon rate and will mature in September 2031.
The money is meant to help rural and underserved communities access safe water and sanitation.
Officials said these projects can support health, livelihoods and quality of life.
NABKISAN Finance Limited listed India’s first social bond dedicated exclusively to water, sanitation and hygiene on the National Stock Exchange.
The issue was oversubscribed 1.8 times and raised Rs 180 crore.
The five-year bond carries an 8.10 per cent coupon rate and matures in September 2031.
CRISIL and CARE assigned the bond their highest domestic ratings, AAA (Stable).
Proceeds are intended to expand safe water, sanitation and hygiene access in rural and underserved communities.
- Who
- NABKISAN Finance Limited, a subsidiary of the National Bank for Agriculture and Rural Development (NABARD).
- What
- Listed India’s first social bond dedicated exclusively to the Water, Sanitation and Hygiene sector.
- Where
- On the National Stock Exchange in India.
- When
- The listing was announced on a Saturday; the bond matures in September 2031.
- Why
- To raise funding for safe water, sanitation and hygiene solutions in rural and underserved communities.
Key facts
- Amount raised
- Rs 180 crore
- Subscription
- Oversubscribed 1.8 times
- Bond term
- Five years
- Coupon rate
- 8.10 per cent
- Maturity
- September 2031
- Credit ratings
- CRISIL AAA (Stable) and CARE AAA (Stable)
- Intended use
- Expand access to safe water, sanitation and hygiene in rural and underserved communities
Sources
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