NABKISAN lists India's first WASH-focused Social Bond on NSE, raises Rs 180 cr

New Delhi, Oct 3 (UNI) NABKISAN Finance Limited, a subsidiary of the National Bank for Agriculture and Rural Development (NABARD), on Thursday listed India's first Social Bond dedicated exclusively to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange (NSE). The five-year Social Bond issue, which received strong investor participation, was oversubscribed 1.8 times and enabled NABKISAN to raise Rs 180 crore. The bond carries a coupon rate of 8.10 per cent and is scheduled to mature in September 2031. The issue has been assigned the highest domestic credit ratings of CRISIL AAA (Stable) and CARE AAA (Stable), reflecting the strong credit profile of the instrument. The proceeds from the bond will be deployed to expand access to safe water, sanitation and hygiene solutions among rural and underserved communities. The financing is aimed at supporting projects that can contribute to better health outcomes, stronger livelihoods and an improved quality of life in communities that continue to face gaps in access to essential WASH services. The listing ceremony was attended by representatives of NABARD, NABKISAN, Water.org, Trust Group and NSE. The event concluded with the ceremonial ringing of the stock exchange bell, marking the listing of the WASH-focused Social Bond. Dr Shaji Krishnan V, Chairman, NABARD, said the successful issuance of the WASH Bond demonstrated the potential of innovative financing mechanisms to address critical development priorities. He said improved access to water and sanitation has a direct bearing on health, livelihoods and quality of life in rural areas, while development institutions have an important role in making such projects bankable and attracting wider participation from commercial and capital markets. Speaking on the occasion, Immanuvel Ganesan, Managing Director and CEO, NABKISAN, said the WASH Bond demonstrated how capital market instruments could mobilise resources for development sectors while generating measurable social impact. He said the strong investor response reflected growing confidence in sustainable finance as a means of advancing inclusive and sustainable rural development. The transaction was supported by a wide range of stakeholders, with Water.org serving as the Technical Advisor and Knowledge Partner. Market institutions, advisors, trustees and arrangers also contributed to the successful issuance and listing of the bond. The listing marks a significant development in the use of capital-market financing for the WASH sector and reinforces NABARD's and NABKISAN's focus on developing innovative financing solutions for sustainable and inclusive rural development. The initiative also contributes to the deepening of India's sustainable finance market by linking institutional capital with projects aimed at addressing essential social and developmental needs in rural and underserved communities. UNI SAS