Indore (Madhya Pradesh): Mayor Pushyamitra Bhargav held a roadshow and a webinar and also interacted with potential investors in Mumbai to promote the green bond which is being issued by the IMC.
On February 8 and 9, he will share details of the green bond with the media.
IMC will launch its green bonds to raise Rs 250 crore for setting up a 60 megawatt (MW) solar power plant at Jalud pumping station, about 80 kilometres from the city.
“The bond will open up for subscription on February 10 and close on February 14. The bond will be listed on BSE and NSE on any suitable day after February 22,” Mayor Pushyamitra Bhargav told Free Press.
“The power generated at the solar plant set up from money generated from public issue will be spent in pulling water from Narmada river at Jalud village, which is neighbouring Khargone district and supply it to Indore,” said Bhargav.
Apart from Indore, people from other parts of the country can invest in the eight-year duration bonds and earn attractive returns.
Indore, which has bagged the tag of the cleanest city in the country six consecutive times, has a population of 35 lakhs and is dependent on the Narmada river for its water needs.
According to officials, the IMC has to foot a heavy bill of Rs 25 crore every month to bring water to Indore from Jalud village, which is 80 km away, and the solar power plant will help cut the expenditure.
