NHAI arm DMEDL raises ₹775 crore via green bonds for sustainable highway projects – CNBC TV18
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The bond issue, held under a closed bidding system, had a base size of ₹500 crore with a green-shoe option for oversubscription up to ₹275 crore. The bonds were issued at a yield of 7.23% per annum.
The funds will support eco-friendly initiatives such as avenue and median plantation, construction of animal underpasses, natural stormwater drainage systems, solar-powered streetlights, waste recycling, and rainwater harvesting along highway projects.
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NHAI Chairman, Santosh Kumar Yadav, IAS, said, “I am very pleased with the encouraging response and would like to thank the investors who have supported such a unique offering. This first-of-its-kind initiative for the roads and highway sector will set a benchmark and encourage participation from a diverse set of investors.”
NRVVMK Rajendra Kumar, Member (Finance), NHAI and Chairman, DMEDL, said “The robust demand for GREEN BONDS and successful issuance demonstrate the confidence of investors in DMEDL and NHAI and encouragement of our commitment to balance infrastructure growth and environment sustainability for a holistic development.”
DMEDL, established in August 2020, is a Special Purpose Vehicle (SPV) tasked with financing, constructing, and operating the Delhi-Mumbai Greenfield Expressway. With an AAA credit rating from CRISIL, CARE, and India Ratings, the SPV has already raised ₹43,000 crore of its ₹48,000 crore funding target for the expressway.
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