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Funds to boost renewable energy and sustainable infrastructure projects
Anytime News Network | Report: Pooja Srivastava
India’s leading public sector lender Bank of Baroda has achieved a significant milestone by successfully raising ₹10,000 crore through the issuance of Series-I Long-Term Green Infrastructure Bonds. With this move, the bank has become the first lender in India to issue green infrastructure bonds in the domestic market.
The bond issue witnessed overwhelming investor interest. Against a base issue size of ₹5,000 crore, the bank received bids worth ₹16,415 crore—more than three times the initial offering. The seven-year bonds were listed on the electronic book platform (EBP) of the National Stock Exchange of India with a ₹5,000 crore base issue and a ₹5,000 crore greenshoe option.
Despite prevailing volatility in financial markets, the bank managed to secure a competitive cut-off coupon rate of 7.10 percent per annum. The strong response from investors reflects their confidence in the bank’s financial strength and long-term sustainability strategy.
Commenting on the milestone, Debadatta Chand, Managing Director and Chief Executive Officer of Bank of Baroda, said that issuing Green Infrastructure Bonds marks a major achievement for the bank and a defining moment for India’s domestic ESG bond market. He noted that raising ₹10,000 crore with strong demand and attractive pricing demonstrates investors’ deep trust in the bank and reinforces its commitment to sustainable and green growth.
He further emphasized that the funds raised through these bonds will support India’s growing infrastructure requirements and contribute to building a cleaner and greener future.
According to the bank, the proceeds from the Green Infrastructure Bonds will be deployed in eligible green projects in line with the bank’s Green Financing Framework and applicable regulatory guidelines. These projects will primarily focus on renewable energy, environmentally sustainable infrastructure and other climate-friendly initiatives.
The bonds have received a top-tier ‘AAA’ rating with a stable outlook from CARE Ratings and ICRA Limited, highlighting the strong creditworthiness of the issuance.
