NMC’s first public issue of municipal green bond lists on NSE

The Nashik Municipal Corporation (NMC) successfully listed Rs 2 billion green municipal bonds on the National Stock Exchange (NSE) on March 9, 2026. The net proceeds from the issue will be utilised to fund sustainable water management infrastructure for the Sinhastha Kumbh Mela and towards capex for the Augmentation of Mukane Water Supply Scheme. This includes the construction of a WTP, a gravity main pipeline from Vilholi to Gandhinagar, water infrastructure for Sadhugram, and the Nilgiri Baug WTP. The public issue of the municipal bond was oversubscribed more than five times, reflecting growing investor confidence in municipal financing.