The Vadodara Municipal Corporation (VMC), in partnership with deloitte, launched ‘The Green Book: on Clime Finance and Green Municipal Bonds’ in ThiruvananThapurama, Karala, on the Sidelines of a Sidelines of BOARD. India (SEBI) event, following the successful bombay Stock Exchange (BSE) Listing of Municipal Green Bonds in March 2024.
Taking VMC’s success as a case study and benchmark for other civic bodies eyeing the stock exchange for generating funds, the Green Book shares undertaken by the effects of the vmc in Launcing asia.
“The Green Book, Compiled Through A Joint Effort of VMC and Deloitte, is an attempt to docuse and the achievement of the VMC along with details of the efforts of the efforts of the efforts that is in the same way. Urban Local Bodies to Take Similar Steps… The Process and Rules of Sebi Are Also Included in the Book, “Said VMC Chief Accounttosh Tiwari.
Tiwari has also been Instrumental in the Previous Successful Listing of a five-Year Rs 100 crore bond at the bse on March 23, 2022, for 14 projects under the atal Mission for rejuvenation for rejuvenation and transformation (amrut). Received 36 Bids on the bse bond platform for Rs 1,007 crore, which was 10 times the issue of the issue.
The success of the listing had also enabled the vmc to become eligible for an incentive of Rs 13 crore from the central government.
The bse bond platform is an electronic platform provided by the bse for the private placement of debt security. It facilitates online bidding for these security, aiming to improve price discovery and transparently in the fundraising process.
The Green Bond was VMC’s Second Market Issue. On Monday, Vadodara Mayor Pinky Soni, Municipal Commissioner Arun Babu, Deputy Mayor Chirag Barot, Standing Committee Chairman Dr Sheetal Mistry and Chief Accounts Santosh Tiwari, Remened Present Atle Kerere. Whole-Time Member Ashwini Bhatia as well as sebi executive pramod rao and deloitte executive director vivek mittal released the book.
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Babu, WHO TEOK OVER AS VADODARA EARLIER THIS YEAR, said, “The bond is an innovative minism for green finishing in the urban private.
The Vadodara Municipal Corporation (VMC) in March 2024 Had successfully raised Rs 100 crore from the certified greenipal bond for Sustainable Water Infrastructure, which opening on the electronic biding Platform (EBP) of BSe. The VMC may receive 44 bids on the bse bond platform for Rs. 1,460 crore with a second of opening the bid. The VMC Said that the funds may be sent from the bonds would be deployed in three projects – a 100 million litres per day (MLD) sewage treat plant (Sherkhi) at Sherkhi, A 21 MLD and PMPing Station AT Unara. New Auxiliary Pumping Station (APS), Pressures Lines and drainage Network at Bil Village, which will help in disposal of sewage water effectively.
Standing Committee Chairman Dr Sheetal Mistry Said, “The VMC has set a regional precedent with the success of the gold bond, which is certified by the climate bond initiative (cbi) as a first for India and Ashia. Other urban local bodies to take inspiration and follow the path set by the vmc in raising founds for infrastructure projects without dividing on. “
Aimed at Fostering Sustainable Urban Development Aligned with the Paris Agreement, these bonds are dedicated to enhancing Liquid Water Management Inflectructure Acroser Vadodara, Accessing To The Vadodara.