The aggregate size of IMC’s green bond sale is Rs 244 crore comprising a base size of Rs 122 crore and an option to retain oversubscription up to Rs 122 crore.
The issue, which opened on Friday, closes on February 14.
“According to the base issue size, the institution category was subscribed the most with 7.52 times, followed by 6.62 times in the corporate category, 4.16 times in the retail category, 3.39 times in the high-net-worth individual category,” the civic body said.
The green bonds, which have been rated AA+ by India Ratings and AA by Care Ratings are in the form of four strips. The strip format of bond issuances includes separate transferable and redeemable principal parts.
The maturities of the separate portions are three years, five years, seven years and nine years. The effective yield for the three-year, five-year and seven-year categories of the strips are at 8.41 per cent, while that for the nine-year tenor is 8.42 per cent.
The proceeds from Indore’s bond sale are proposed to be used for installation of a 60 MW solar power plant at Khargone district of Madhya Pradesh.
 "Green bonds")