Surat Municipal Corporation Opens ₹200 crore Green Bond Issue

Surat Municipal Corporation (SMC) will open its Non-Convertible Debenture (NCD) public issue on October 6, 2025. This Green Bond issue is aimed at raising ₹200 crore and will remain open for subscription until October 9, 2025. The bonds will offer investors a fixed yield of 8.16% per annum. Allotment will be made on a first-come, first-served basis, with a minimum application size of ₹10,000.

The proceeds from this issue will be directed towards infrastructure and environmental projects, reinforcing Surat’s focus on sustainable urban growth. Recognized for its city management, SMC was ranked #1 in the Swachh Survekshan 2023 by the Ministry of Housing and Urban Affairs. The corporation continues to build on its reputation for urban cleanliness and green initiatives.

The bonds have received a provisional credit rating of CRISIL AA+/Stable from CRISIL Ratings Limited. A. K. Capital Services Limited is acting as the lead manager for the issue. 

Applications for the bonds can be made through leading online bond platforms like IndiaBonds, ensuring nationwide accessibility. This issuance underscores the growing role of municipal bonds in financing sustainable development while offering investors stable returns.