Authorities have promoted the 80 billion rupee ($ 984 million) issue to the country’s biggest domestic asset managers, including state-run insurers and pension funds as well as foreign investors.
January 24, 2023 / 09:41 PM IST
India’s first sovereign green bond will go to auction January 25, and policy makers have laid the groundwork to ensure a successful debut.
Authorities have promoted the 80 billion rupee ($ 984 million) issue to the country’s biggest domestic asset managers, including state-run insurers and pension funds as well as foreign investors.
The insurance industry regulator will allow the bonds to count toward insurers’ required infrastructure investments. Banks can use it toward mandatory government holdings, and there’s no limit for foreign buyers.
“We expect strong demand for India’s first issuance of sovereign green debt from both domestic as well as foreign portfolio investors,” said Parul Mittal Sinha, head of India financial markets at Standard Chartered Plc in Mumbai. Nomura Holdings Plc and Barclays Plc said the same.
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