NABKISAN Lists India’s First WASH-Focused Social Bond, Raises ₹180 Crore

NABKISAN Finance Limited, a subsidiary of the National Bank for Agriculture and Rural Development (NABARD), on 1st October 2026 listed India’s first Social Bond dedicated exclusively to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange (NSE), Mumbai.
The Social Bond issue witnessed robust investor participation and was oversubscribed 1.8 times, enabling NABKISAN to raise ₹180 crore. The five-year bond carries a coupon rate of 8.10%, matures in September 2031, and 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 the ceremonial bell ringing.
Dr. Shaji Krishnan V, Chairman, NABARD, said that the successful issuance of the WASH Bond demonstrates the potential of innovative financing mechanisms in addressing critical development priorities. He highlighted that improved access to water and sanitation strengthens health, livelihoods and quality of life in rural areas, while development institutions play an important role in making such projects bankable and attracting wider participation from commercial and capital markets.
Speaking on the occasion, Shri Immanuvel Ganesan, MD & CEO, NABKISAN, stated that the WASH Bond demonstrates how capital market instruments can mobilise resources for development sectors while delivering measurable social impact. The strong investor response reflects growing confidence in sustainable finance as a means to advance inclusive and sustainable rural development.
The transaction was supported by a wide range of stakeholders, including Water.org as Technical Advisor and Knowledge Partner, along with market institutions, advisors, trustees and arrangers who contributed to the successful issuance and listing of the bond.
The listing of India’s first WASH-focused Social Bond reinforces NABARD’s and NABKISAN’s commitment to advancing innovative financing solutions that support sustainable and inclusive rural development, while deepening the country’s sustainable finance market.