Nabard subsidiary Nabkisan lists India’s first WASH social bond; raises ₹180 crore
The issue received strong investor interest and was oversubscribed 1.8 times
Nabard subsidiary Nabkisan Finance Ltd has successfully listed India's first social bond focused on the water, sanitation and hygiene (WASH) sector on the National Stock Exchange (NSE). The issue raised ₹180 crore and was oversubscribed 1.8 times. The five-year bond offers an 8.10% coupon rate and matures in September 2031, receiving AAA ratings with a stable outlook from CRISIL and CARE Ratings.
Funds raised will be utilized to enhance access to safe water, sanitation, and hygiene solutions, aiming to improve health outcomes, livelihoods, and quality of life in rural areas. Technical advisor Water.org played a crucial role in this transaction.
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