Nashik Announces Launch of Green Bonds for Simhastha Kumbh 2027

Nashik Municipal Corporation has unveiled its first green bonds initiative to finance critical projects for the 2027 Simhastha Kumbh Mela. The bonds were announced by Mayor Himgauri Aher-Adke, Deputy Mayor Vilas Shinde, and Civic Commissioner Manisha Khatri.

Opening on February 25, with a closing date of March 2, these taxable, unsecured, redeemable, and non-convertible green municipal bonds, each with a face value of Rs 1,000, seek public investment for Nashik's development, especially in light of the upcoming religious gathering.

The proceeds are mainly intended for the Mukane Water Supply Scheme, including the construction of a water treatment plant and infrastructure enhancements from Vilholi to key locations. The bonds were listed on the National Stock Exchange on December 1 of the last year.