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SBI Capital Markets Limited acted as the Merchant Banker cum Arranger for Ahmedabad Municipal Corporation’s (AMC) issuance of Green Municipal Bonds.

SBI Capital Markets Limited takes immense pride in serving as the Merchant Banker cum Arranger for Ahmedabad Municipal Corporation's (AMC)...

SBI Capital Markets Limited takes immense pride in serving as the Merchant Banker cum Arranger for Ahmedabad Municipal Corporation’s (AMC) successful fundraising endeavour through the issuance of Green Municipal Bonds. The raised funds, totalling INR 200 crores, will be dedicated to advancing key projects, including the development of a Water Treatment Plant, Tertiary Treatment Plant, and the expansion of Renewable Energy capacity through Wind and Solar Projects.

AMC has secured a provisional CRISIL AA+/Stable rating from Crisil and a provisional IND AA+/Stable rating from India Ratings, highlighting both the robust creditworthiness of Ahmedabad Municipal Corporation and the sound structure of the financial instrument. The overwhelming response from investors, with bids reaching INR 1360 crores and oversubscription by approximately ~13.6 times, underscores the strong interest and confidence from a diverse investor base. We appreciate the support from investors across various segments, reflecting their commitment towards sustainable projects and the shared goal of advancing the bond markets in India.

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