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India’s 1st Externally Credit Enhanced Green Bond

We are proud to announce that KPI Green Energy Limited has successfully raised “India’s 1st Externally Credit Enhanced Green Bond”. Issuer has...

India’s 1st Externally Credit Enhanced Green Bond. Infographic showing Deal Summary: Issue Size ₹15,512 Cr, Issue Price ₹326, Issue Period Oct 6-8, 2025. Subscription Details: Overall 1.96x, QIB 3.41x, NII 2.00x, Retail 1.12x. Company Highlights: Third largest diversified NBFC in India with INR 2,334 billion total gross loans. SBICAPS raised ~INR 4.0 Lakh Cr for clients since April 2020.

Deal Summary: Issue Size: ₹15,512 Cr. Issue Price: ₹326. Issue Period: Oct 6 – Oct 8, 2025.

Subscription Details: Overall: 1.96 times, QIB: 3.41 times, NII: 2.00 times, Retail: 1.12 times.

Company Highlights: Tata Capital is the flagship financial services company of the Tata group with a legacy of over 150 years; third largest diversified NBFC in India with Total Gross Loans of INR 2,334 billion as of June 30, 2025; comprehensive suite of 25+ lending products serving over 7.3 million customers.

Market Position: SBICAPS continues to dominate Indian Equity Capital Markets space, raising ~INR 4.0 Lakh Cr. for its clients since April 2020.

We are proud to announce that KPI Green Energy Limited has successfully raised “India’s 1st Externally Credit Enhanced Green Bond”. Issuer has raised Rs 670 crores through the issuance of Green Bonds in September 2025.
This transaction was partially credit guaranteed from GuarantCo Limited. The bond carries a coupon of 8.50% per annum, payable quarterly, with a five-year amortization profile.

KPI Green Energy Limited is a leading renewable energy developer and operator in the country. The company has a strong track record of executing projects under both Independent Power Producer (IPP) and Captive Power Producer (CPP) models. As of June 2025, the company’s installed and work-in-progress (WIP) power generation capacity stands at ~4 GW at the KPI Green Energy Limited level.

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