Nashik Municipal Corporation has announced the public issue of Rated, Listed, Taxable, Unsecured, Redeemable, Non-Convertible Green Municipal Bonds (in the nature of debentures) of the face value of Rs 1000 each for an amount aggregating up to Rs 200 crore.
The issue is scheduled to open on 25 February 2026 and closes on 02 March 2026.
The NCD has a face value of Rs 1,000/- each, which comprises of 8 (eight) separately transferable and redeemable principal parts (STRPPs) namely STRPP A STRPP B, STRPP C, STRPP D, STRPP E, STRPP F, STRPP G and STRPP H of face value of Rs 125 each.
An effective yield (per annum) for the NCD holders in all categories of investors ranges is 8.20%.
STRPP A is redeemable after 3 years, STRPP B is redeemable after 4 years, STRPP C is redeemable after 5 years, STRPP D is redeemable after 6 years, STRPP E is redeemable after 7 years, STRPP F is redeemable after 8 years, STRPP G is redeemable after 9 years and STRPP H is redeemable after 10 years.
All STRPP are independently tradable.
The NCDs issue has been rated Provisional INDAA+/Stable by India Ratings & Research and Provisional CRISIL AA+/Stable by CRISIL Ratings.
The minimum application size for each application for NCDs would be 10 NCDs (comprising of 10 STRPP A, 10 STRPP B, 10 STRPP C, 10 STRPP D, 10 STRPP E, 10 STRPP F, 10 STRPP G and 10 STRPP H) which is Rs 10,000 and thereafter in multiples of 1 NCD (Rs 1000) comprising of 1 STRPP A, 1 STRPP B, 1 STRPP C, 1 STRPP D, 1 STRPP E, 1 STRPP F, 1 STRPP G and 1 STRPP H.
NCDs are proposed to be listed on NSE and BSE.