New Delhi, Dec 5 (UNI) The National Highways Authority of India’s fully owned Special Purpose Vehicle (SPV) ‘DME Development Limited’ (DMEDL), will issue green bonds to raise funds for the implementation of environment-friendly measures on Delhi-Mumbai Expressway project.
To be held under closed bidding system, the aggregate total size of the issue will be up to Rs1,000 crores with a base issue size of Rs 500 crores, an official statement said.
There will be a green-shoe option to retain oversubscription up to Rs 500 crores. The first of its kind green bond issue in Roads and Highways sector is expected to be launched in the second week of December and will be completed with strict compliance to Government of India’s sovereign green bonds framework, international protocols and SEBI guidelines.