Bank of Baroda has raised Rs 100 billion through its inaugural seven-year green infrastructure bond issuance, aimed at financing renewable energy and energy-efficient infrastructure projects.
The bonds were priced at 7.10 per cent and saw strong demand from domestic institutional investors, with bids reportedly amounting to Rs 160 billion against a base issue size of Rs 50 billion and a greenshoe option of Rs 50 billion. The proceeds will be used to finance projects across wind, solar, hydro and bioenergy, as well as energy-efficient infrastructure.