BSE’s India INX Lists IRFC’s First Green Bond
IRFC had last year raised $500 million from the 10-year green bond.
The BSE's India International Exchange, India INX, today listed the IRFC's green bonds on its debt listing platform – the global securities market.
With this, the Indian Railway Finance Corporation's green bonds have become the first debt security to be listed on an exchange at International Financial Services Centre in Gujarat's GIFT city.
IRFC had last year raised $500 million from the 10-year green bond from investors in Asia, Europe and offshore U.S. through listing on the London Stock Exchange.
Listing the bond on India INX at an event organised by the BSE, Railway Minister Piyush Goyal said "India is the fastest-growing economy in the world and our need to raise funds is a continuous process."
To have a platform to tap global investors by issuing bonds in any currency is the first of its kind in India and India INX as India’s first international exchange at IFSC Gift city, Gandhinagar has yet again been a pioneer in this.Piyush Goyal, Railway Minister
“This will make global investors and funds more accessible to Indian and foreign issuers at a fraction of cost that is being incurred today by issuers," he added.
The bonds have an annual yield of 3.835 percent.
"Such a listing platform from India INX will now help us to tap global investors from India going forward," IRFC chairman BN Mohapatra said.
India INX's Global Securities Market segment, India's first debt listing platform, allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.