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Mumbai, Oct 16 (IANS) Surat Municipal Corporation’s Rs 200 crore green municipal bond was listed on the city’s National Stock Exchange (NSE) on Thursday. The officers provided this information.
Gujarat Chief Minister Bhupendra Patel rang the ‘ceremonial bell’ in the traditional manner and was also attended by NSE Managing Director and CEO Ashish Kumar Chauhan and Surat Mayor Dakshesh Mavani and other high-ranking officials.
Addressing the gathering, the Gujarat Chief Minister said that India has set an example for the world by maintaining a balance between economy and ecology and said green, clean and self-reliant cities will lay the foundation of a self-reliant and developed nation.
Praising the Green Bond initiative of Surat Municipal Corporation, he said that it will be useful in achieving the target of ‘Net Zero Carbon Emission’ in the country by the year 2070.
He also mentioned Prime Minister Narendra Modi’s vision towards development while preserving the environment and appreciated the effective functioning and planning of ‘green projects’ of Surat Municipal Corporation.
Notably, Surat Municipal Corporation’s green bond issue has garnered international interest from global investors, emerging as a nationwide role model for cleanliness and green mobility.
Chief Minister Patel said, “The Rs 200 crore Municipal Green Bond issued by Surat Municipal Corporation has made people a partner in green and sustainable development. The eight-fold subscription of Surat Municipal Corporation Green Bond reflects the extraordinary enthusiasm shown by investors to invest in green bonds.”
Claiming that the initiative will accelerate the city’s development, he said that under India’s G20 presidency, in line with the Prime Minister’s message of “One Earth, One Family, One Future”, member countries have also prioritized the vision of sustainable development and green growth.
Speaking on the occasion, Surat Mayor Mavani said that sustainable energy will serve as an inspiring example to realize Prime Minister Modi’s vision of a developed India by 2047.
He said, “Surat is a mini India. Everyone has contributed in the development of Surat. Surat has received around 14 awards so far. Surat will be made the best city in the world with green energy.”
These green bonds opened on 6 October and closed on 9 October.
During this period, the green bond of Surat Municipal Corporation has reached Rs 800 crore against the demand of Rs 200 crore.
As a result, the allotment of bonds will be done through a draw system.
The municipal corporation invited proposals for allocation of Rs 30 crore, which is 15 per cent of the total bond issuance in the retail sector.
–IANS
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