Avaada Energy's Rs. 1,440 cr green bond issue oversubscribed

New Delhi: Avaada Energy's green bond worth Rs1,440 crore was oversubscribed against the base issue size. "The green bond issue of Rs1,440 crore is oversubscribed. It was opened on February 27 and will close on March 1," a company spokesperson told PTI.

Avaada Energy is raising green bonds for Rs 1,440 crore ($192 million) in the Indian capital market at 6.75 per cent, making it India's largest AAA-rated Green Bond by any renewable energy developer, the company said in a statement.

The bonds are certified by the Climate Bonds Standard Board of the Climate Bonds Initiatives and compliant with the Sebi guidelines for Green Debt Securities. The bonds will be listed on the BSE with a tenure of 3 years.

The issue earned the highest rating by CRISIL ratings.