BoB Becomes First Bank in India to Raise Green Infrastructure Bonds Worth Rs.10,000 Crore
In March 2026, Bank of Baroda (BoB) raised Rs.10,000 crore through Series-I long-term Green Infrastructure Bonds, becoming the first bank in India to issue domestic green bonds for infrastructure financing.
In March 2026, Bank of Baroda (BoB) raised Rs.10,000 crore through Series-I long-term Green Infrastructure Bonds, becoming the first bank in India to issue domestic green bonds for infrastructure financing.
- The issuance marks a major step in strengthening India’s sustainable finance ecosystem and supports the bank’s Environmental, Social and Governance (ESG) initiatives.
About Green Bond Is.suance:
Bond Issuance Details: The seven-year bonds were placed on the Electronic Book Provider platform of the National Stock Exchange of India (NSE), Mumbai, Maharashtra.
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- The base issue stood at Rs 5,000 crore with an equal greenshoe option of Rs 5,000 crore. Bids totalled Rs 16,415 crore, over 3 times the base size, showing strong investor confidence.
Financial Terms: BoB fixed the annual cut-off coupon rate at 7.1 percent for the 7-year Green Infrastructure Bonds, securing a “greenium” due to strong investor demand for sustainable finance.
Ratings: The bonds hold ‘AAA’ stable ratings from Credit Analysis and Research Limited (CARE Ratings) and Investment Information and Credit Rating Agency of India Limited (ICRA), ensuring top safety.
Purpose: Proceeds will finance eligible green projects under BoB’s Green Financing Framework, such as renewable energy and sustainable infrastructure.
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