India’s First WASH Bond Raises ₹180 Crore for Clean Water and Sanitation

Mumbai witnessed a landmark moment on 1 October 2026, when NABKISAN Finance Limited, a subsidiary of NABARD, listed India’s first Social Bond dedicated to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange (NSE). This pioneering initiative marks a significant step in leveraging capital markets for sustainable rural development.

The WASH Social Bond attracted strong investor interest, achieving an oversubscription of 1.8 times and enabling NABKISAN to mobilize ₹180 crore. Structured as a five‑year instrument, the bond offers a coupon rate of 8.10%, matures in September 2031, and carries the highest domestic credit ratings — CRISIL AAA (Stable) and CARE AAA (Stable). The funds will be directed toward expanding access to clean water, sanitation, and hygiene facilities in rural and underserved communities, thereby improving health outcomes, supporting livelihoods, and enhancing overall quality of life.

The listing ceremony at NSE featured addresses from representatives of NABARD, NABKISAN, Water.org, Trust Group, and NSE, culminating in the ceremonial bell ringing to mark this milestone in India’s sustainable finance journey.  

Key Highlights of the Bond

• Fundraising success: Oversubscribed 1.8 times, raising ₹180 crore.
• Bond details:
  • Tenure: 5 years (maturing September 2031)
  • Coupon rate: 8.10%
  • Credit ratings: CRISIL AAA (Stable) and CARE AAA (Stable)
• Purpose: Funds will expand access to safe water, sanitation, and hygiene solutions in rural and underserved communities.

Impact on Rural Development

• Improve health: Reducing waterborne diseases.
• Strengthen livelihoods: Better sanitation infrastructure.
• Enhance quality of life: Clean water and hygiene facilities.

Investor Confidence in Sustainable Finance

Shri Immanuvel Ganesan, MD & CEO of NABKISAN, highlighted that the strong investor response reflects growing confidence in sustainable finance. The WASH Bond shows how capital market instruments can mobilize resources for development sectors while delivering measurable social impact.

Stakeholder Collaboration

• Water.org: Served as Technical Advisor and Knowledge Partner.
• Market institutions, advisors, trustees, and arrangers: Contributed to the successful issuance and listing.

Symbolic Launch

The listing ceremony included addresses from NABARD, NABKISAN, Water.org, Trust Group, and NSE representatives, followed by the ceremonial bell ringing — symbolizing the start of a new chapter in India’s sustainable finance journey.

Broader Significance

The WASH Bond reinforces NABARD’s and NABKISAN’s commitment to innovative financing solutions that support sustainable and inclusive rural development. It also deepens India’s sustainable finance market, setting a precedent for future social bonds targeting critical development sectors.