DME Development Ltd (DMEDL), a wholly owned subsidiary of the National Highways Authority of India (NHAI), has raised Rs 7.75 billion through the first-ever issuance of Green Bonds in the roads and highways sector. The bonds aim to promote infrastructure development while ensuring environmental sustainability. NHAI Chairman Santosh Kumar Yadav expressed satisfaction with the response, stating, This unique initiative sets a benchmark in the sector and encourages participation from diverse investors. Similarly, NHAI Member (Finance) and DMEDL Chairman NRVVMK Rajendra Kumar highlighted the strong demand as a testament to investor confidence in balancing infrastructure growth with environmental responsibility. The Rs 7.75 billion issuance included a base size of Rs 5 billion with a green-shoe option to accommodate oversubscriptions up to Rs 2.75 billion, offering a yield of 7.23% per annum. Conducted under a closed bidding system, the proceeds will fund environmentally friendly initiatives, including: - Avenue and median plantations - Construction of animal underpasses - Natural stormwater drainage - Solar-powered street lighting - Waste recycling and reuse - Rainwater harvesting Incorporated in August 2020, DMEDL serves as a Special Purpose Vehicle (SPV) for financing, constructing, and operating the Delhi-Mumbai Greenfield Expressway. With a AAA credit rating from CRISIL, CARE, and India Ratings, DMEDL has raised Rs 430 billion of its Rs 480 billion target through loans and bonds for the Delhi-Mumbai Expressway project. This milestone underscores DMEDL’s commitment to integrating sustainability into India’s ambitious infrastructure development. (ET)