Surat: Surat Municipal Corporation (SMC) is likely to issue a public IPO of ₹200 crore for environmental projects. This year’s budget aims to fund water, wind, and other environmental energy sector works through green municipal bonds. The standing committee has approved the proposal.

If approved, SMC will raise ₹200 crore from the public through an IPO, with each IPO share having a face value of ₹1,000. SMC aims to fund five environment-friendly projects, raising ₹215.98 crore from internal sources and ₹168.60 crore from other sources.

Additionally, SMC is expanding its income sources to support ongoing development projects in Surat. The SMC Municipal Commissioner Shalini Agarwal had initially planned a private issue to raise ₹200 crore, but shifted to a public IPO due to high interest rates in the private sector. DeshGujarat