Description
BSE lists 8 tranches of 8.05% Secured Redeemable Non-Convertible Green Municipal Bonds (STRPP A-H) issued by Nashik Municipal Corporation, allotted on March 5, 2026, with maturities ranging from 2029 to 2036.
Summary
BSE has listed 8 tranches of 8.05% Rated, Listed, Taxable, Unsecured, Redeemable, Non-Convertible Green Municipal Bonds (in the nature of debentures) issued by Nashik Municipal Corporation under a Structured Tranche Principal Payment (STRPP) structure. All tranches were allotted on March 5, 2026, with maturities staggered annually from 2029 to 2036. Each tranche comprises 20,00,000 securities at a nominal/issue/paid-up value of Rs. 125 each, amounting to Rs. 25 crores per tranche and a total issuance of Rs. 200 crores.
Key Points
- 8 tranches (STRPP A–H) listed simultaneously on BSE’s debt market segment
- Coupon rate: 8.05% per annum, paid half-yearly on March 5 and September 5 every year
- Issue/Nominal/Paid-up value: Rs. 125 per security
- Securities per tranche: 20,00,000 (2 million); Redemption amount per tranche: Rs. 25 crores
- Total issuance size: Rs. 200 crores across all 8 tranches
- Scrip Codes: 940917 (STRPP A) through 940931 (STRPP H, odd numbers only)
- Scrip IDs: 805NMC29 through 805NMC36
- Rated by India Ratings
- Green bond classification — proceeds designated for environmentally sustainable municipal projects
Regulatory Changes
No new regulatory changes introduced. This circular is a standard listing notice under BSE’s debt market segment for municipal bonds.
Compliance Requirements
- Trading members and participants must use the correct ISIN codes for each tranche when executing trades
- Half-yearly interest payments to be tracked on March 5 and September 5 each year
- Investors should note distinct ISINs and scrip codes for each STRPP tranche to avoid misallocation
Important Dates
| Tranche | Scrip Code | ISIN | Maturity Date |
|---|---|---|---|
| STRPP A | 940917 | INE579F24099 | March 5, 2029 |
| STRPP B | 940919 | INE579F24065 | March 5, 2030 |
| STRPP C | 940921 | INE579F24032 | March 5, 2031 |
| STRPP D | 940923 | INE579F24057 | March 5, 2032 |
| STRPP E | 940925 | INE579F24040 | March 5, 2033 |
| STRPP F | 940927 | INE579F24081 | March 5, 2034 |
| STRPP G | 940929 | INE579F24073 | March 5, 2035 |
| STRPP H | 940931 | INE579F24107 | March 5, 2036 |
- Allotment date: March 5, 2026
- Interest payment dates: March 5 and September 5 every year
Impact Assessment
This listing expands BSE’s green municipal bond segment and provides debt investors with a tax-liable, rated instrument backed by Nashik Municipal Corporation. The STRPP structure offers staggered maturities from 3 to 10 years, catering to investors across different duration preferences. At 8.05% half-yearly coupon, these bonds are competitively priced for municipal issuances. ESG-focused funds and institutional investors in the debt segment are the primary audience. The green bond designation may attract dedicated ESG capital. No direct impact on equity markets is anticipated.
Impact Justification
Significant green municipal bond issuance totalling Rs. 200 crores across 8 tranches, relevant to debt market participants and ESG investors, but limited direct equity market impact.