The Pimpri-Chinchwad Municipal Corporation (PCMC) has issued a green bond to become the first municipal body to get listed in the market. PCMC is now the first corporation to raise funds through the capital market, an official statement said on Tuesday.

The statement said that the listing ceremony of the green bond was recently done at the BSE International Convention Hall, Bombay Stock Exchange (BSE).  Deputy Chief Ministers Eknath Shinde and Ajit Pawar, MLAs Mahesh Landge, Shankar Jagtap, Amit Gorkhe, Uma Khapare, Chief Secretary Sujata Saunik, Brihanmumbai Municipal Corporation (BMC) Commissioner Bhushan Gagrani, PCMC Commissioner Shekhar Singh, Additional Chief Secretary Asim Gupta, Principal Secretary Dr K Govindraj, and BSE MD Sundaram Ramamurthy were present during the event.

Speaking on the occasion CM Fadnavis asserted that the green bond introduced by PCMC received overwhelming response from the investors. Within minutes of the issue, Rs 100 crore were raised, and the number of investors are constantly increasing since then, lifting the confidence of the stock market. The bonds, with a 5-year tenure, carry a competitive interest rate of 7.85 per cent. Listing bonds on the stock exchange is a complicated procedure with strict corporate regulations. This complex process was successfully completed by PCMC and the funds raised will be utilised for eco-friendly and sustainable development projects.