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Time of India
a day ago
- Business
- Time of India
PCMC mobilises Rs 200 crore via sale of green muni bonds
Mumbai: Pimpri Chinchwad Municipal Corporation (PCMC) Tuesday raised ₹200 crore through sale of green municipal bonds , an official said, in what is among the first few such issuances by an Indian city administration. "The bond issue saw robust demand with oversubscription of 5.1 times. The fund raised through the bond issue will be used for an urban mobility project called Harit Setu," Shekhar Singh, commissioner and administrator of PCMC , told ET. "Under this project, the focus will be on creating better walking paths for pedestrians, dedicated cycling tracks, and improving first and last-mile connectivity with metro stations." The base size of the bond issue was ₹100 crore.
Indian Express
a day ago
- Business
- Indian Express
PCMC raises Rs 200 crore through Maharashtra's First Green municipal bond
Describing it as a landmark achievement, the Pimpri Chinchwad Municipal Corporation (PCMC) on Tuesday claimed that it successfully raised Rs 200 crore through 'Maharashtra's first Green Municipal Bond,' receiving an overwhelming response from investors. The issue, floated on the BSE's Electronic Bidding Platform via private placement, attracted bids worth Rs 513 crore — oversubscribing the offer by 5.13 times. The base issue of Rs 100 crore was fully subscribed within one minute of opening, reflecting robust investor confidence, the civic administration said. Offered at a competitive coupon rate of 7.85%, the bonds are rated 'AA+' by CRISIL Ratings and CARE Ratings, with a tenure of five years. The structured repayment mechanism is secured through an escrow of Property Tax collections, ensuring timely servicing of interest and principal payments, officials said. The funds raised will support two major green infrastructure initiatives — the Harit Setu Project in Nigdi Pradhikaran and the development of Telco Road from Gawali Matha to Indrayani Nagar Chowk — both contributing to PCMC's commitment to sustainable and climate-resilient urban development. Municipal Commissioner Shekhar Singh said, 'The overwhelming response to our Green Bond is a testament to the trust that investors place in Pimpri-Chinchwad's vision for a sustainable future. This funding will help us accelerate critical green infrastructure projects and strengthen our resilience against climate change.' This is PCMC's second municipal bond in two years, following the successful Rs 200 crore issue in July 2023. With the successful issuance of this green bond, PCMC also qualifies for a Rs 20 crore incentive from the Government of India, as part of its support for environmentally responsible financing, officials said. A. K. Capital Services Ltd served as the Transaction Advisor and Merchant Banker for the issue.
Time of India
6 days ago
- Politics
- Time of India
PCMC puts preparation of Charholi TP schemes on hold, residents call off bandh
1 2 3 Pune: The PCMC on Thursday decided to stop preparations for the proposed town planning schemes in Charholi, prompting residents to call off Friday's bandh in protest. In an official statement, municipal commissioner Shekhar Singh stated that further proceedings regarding the town planning (TP) schemes in Charholi had been put on hold following strong protests by residents and public representatives. A senior PCMC official said a final decision to cancel the TP schemes would need approval in a general body meeting. "A decision about when to table the proposal to cancel the TP schemes in the general body is yet to be taken. For now, we have suspended all ongoing processes related to the plan," he said. Former Pimpri Chinchwad mayor Nitin Kalje, a resident of Charholi himself, said, "We held a meeting with local residents right after the civic body announced its decision to suspend the plan. We have decided to wait until Tuesday for the PCMC (Pimpri Chinchwad Municipal Corporation) to table and approve the proposal to officially cancel the TP schemes in the general body. If that does not happen, we will plan our next course of action. " Last month, PCMC published a public notice of its intention to implement six TP schemes — one in Chikhali covering 380 hectares and five in Charholi spanning over 1,425 hectares. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo On May 16, the general body approved the cancellation of the Chikhali TP scheme. The Charholi schemes, too, are likely to be withdrawn. Local representatives, including Bhosari MLA Mahesh Landge and former Kalje, met the municipal commissioner on multiple occasions to convey their objections. In protest, residents had announced a bandh (now called off) in Charholi on Friday. MLA Landge said, "I welcome the civic body's decision and thank the administration. A formal notification to cancel the Charholi TP schemes will be issued soon." The residents claimed that most landowners, particularly farmers, lost a significant portion of land for various development projects earlier, and the TP schemes would further reduce their holdings because a part of their land would be used to develop public amenities. They said the civic body published a draft of the revised development plan in which their land was placed under reservations, and there was no need to implement the TP scheme.
Hindustan Times
6 days ago
- Politics
- Hindustan Times
After public protest, PCMC puts TP scheme in Charholi on hold
Following protests from locals and politicians, the Pimpri Chinchwad Municipal Corporation (PCMC) on Thursday put the proposed town planning (TP) scheme for Charholi area on hold, said officials. According to officials, the development plan of Pimpri-Chinchwad received partial approval in 2008 and final okay in 2009. On May 15, 2025, a draft development plan was published under Section 26(1) of the Maharashtra Regional and Town Planning Act, 1966. To implement the development plan, PCMC published a public notice on May 1, intending to implement the town planning scheme on 380-hectare in Chikhali-Kudalwadi and 1,425-hectare land in Charholi. Citizens, including MLA Mahesh Landge and other public representatives, opposed the implementation of the town planning scheme. Shekhar Singh, municipal commissioner, PCMC, said, 'Following public protest, the civic body has decided to put the decision on hold.' The civic body had earlier scrapped the TP scheme in Chikhali-Kudalwadi.
Indian Express
24-05-2025
- Business
- Indian Express
PCMC@50 Citizen Survey crosses halfway with 10K responses so far
The PCMC@50 Vision initiative continues to gain momentum with over 10,000 citizens taking part in the survey aimed at shaping Pimpri Chinchwad city's development roadmap ahead of its 50th anniversary in 2032. In addition to the citizen survey, the Pimpri Chinchwad Municipal Corporation (PCMC) has also launched an internal employee survey to gather their responses and insights for the said initiative. Conducted across all eight zones of the city, the citizen survey is being implemented by over 250 trained women from various Self-Help Groups (SHGs). Till May 23, a total of 10,000 responses have been collected through SHG outreach, with 91 citizens choosing to submit their feedback independently via the digital route. On May 23 alone, 1,000 additional responses were recorded, the civic administration said. PCMC commissioner Shekhar Singh said, 'This initiative is not just about data collection—it's about building a shared vision for the city's future. I encourage all citizens and staff members to participate wholeheartedly. Every response brings us closer to a more inclusive, efficient and forward-looking Pimpri Chinchwad.' Citizens are encouraged to fill out the survey independently by scanning the dedicated QR code available on the official PCMC website, at ward offices, and at various public locations. This digital self-submission option provides a quick and easy way for residents to contribute their feedback. The citizen survey will continue in the coming days, and widespread participation is crucial to ensure that the city's growth plans reflect the real needs and aspirations of its people, officials said.
