NABKISAN Finance Limited, a subsidiary of the National Bank for Agriculture and Rural Development (NABARD), listed India's first Social Bond dedicated exclusively to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange (NSE), Mumbai on October 1, 2026. The bond issuance raised ₹180 crore and was oversubscribed 1.8 times, demonstrating robust investor participation.
The five-year bond carries a coupon rate of 8.10% and matures in September 2031. It has been assigned the highest domestic credit ratings of CRISIL AAA (Stable) and CARE AAA (Stable). The proceeds will be deployed to expand access to safe water, sanitation and hygiene solutions across rural and underserved communities, contributing to improved health, livelihoods and quality of life.
The listing ceremony included addresses by representatives of NABARD, NABKISAN, Water.org, Trust Group and NSE, followed by ceremonial bell ringing. Dr. Shaji Krishnan V, Chairman of NABARD, stated that the successful issuance demonstrates the potential of innovative financing mechanisms in addressing critical development priorities, highlighting that development institutions play an important role in making such projects bankable and attracting wider participation from commercial and capital markets.
Shri Immanuvel Ganesan, MD & CEO of NABKISAN, stated that the WASH Bond demonstrates how capital market instruments can mobilize resources for development sectors while delivering measurable social impact, with the strong investor response reflecting growing confidence in sustainable finance as a means to advance inclusive and sustainable rural development.
The transaction was supported by Water.org as Technical Advisor and Knowledge Partner, along with market institutions, advisors, trustees and arrangers who contributed to the successful issuance and listing. This listing reinforces NABARD's and NABKISAN's commitment to advancing innovative financing solutions that support sustainable and inclusive rural development while deepening India's sustainable finance market.