Union Ministry of Housing
and Urban Affairs approved a ₹26 crore incentive for the Nashik Municipal
Corporation
¨
Union
Ministry of Housing and Urban Affairs approved a ₹26 crore incentive for the
Nashik Municipal Corporation.
¨
The
incentive is linked to the corporation's ₹200 crore Clean Godavari Bond issue.
¨
The
Clean Godavari Bond was listed on the National Stock Exchange (NSE), Mumbai, on
2 December 2025.
¨
The
Clean Godavari Bond is a municipal bond issued by the Nashik Municipal
Corporation.
¨
Municipal
bonds are debt instruments issued by urban local bodies to raise funds for
public infrastructure and civic projects.
¨
The
bond carries a coupon rate of 7.8%.
¨
Its
maturity period extends up to 2030.
¨
The
bond issue was oversubscribed 3.95 times, receiving bids worth nearly four
times the amount offered.
¨
The
₹26 crore incentive is 13% of the ₹200 crore raised through the bond issue.
¨
The
incentive is provided by the Union Government to encourage urban local bodies
to raise funds through the municipal bond market for infrastructure financing.
¨ Nashik became the third Indian city, after Pune and Pimpri Chinchwad, to raise funds through the municipal bond market
¨ The bond listing ceremony was attended by Maharashtra Chief Minister Devendra Fadnavis.
.jpg)
 Scheme for another five years.jpg)
