In a conversation with CNBC-TV18, Nashik Mayor Himgauri Aher Adke and Municipal Commissioner Manisha Khatri said the funds will be used mainly to upgrade water treatment facilities and lay new pipelines across key areas of the city.
The money raised will go towards augmenting the Mukne Dam project, constructing water treatment plants at multiple locations including Nilgiri Bagh, and laying pipelines from Vilholi to Gandhinagar. The focus is clear: improve water supply and reduce large-scale leakages in the system.Khatri said, “We are issuing and raising funds of up to ₹200 crore for the purpose of water treatment plant at Mukne.”
The bond has a face value of ₹1,000 per unit, with a minimum investment of ₹10,000, making it accessible to retail investors. The issue has been structured into eight different options, offering flexibility depending on investor preference.
Why a Green Bond?
Instead of depending entirely on government grants or traditional bank loans, the civic body chose the bond route. According to the Mayor, municipal corporations need to adapt to evolving financial models. With the central government encouraging green financing, Nashik saw this as the right time to act.
The timing is also linked to a pressing challenge — high water leakages. Nearly half of the city’s water supply is currently lost due to leakages. Fixing this inefficiency became a major trigger for the fundraising decision.
What Will Change on the Ground?
The administration aims to bring leakages down from nearly 47–49% to global benchmarks of 15–20%. That alone could significantly improve water availability without adding new supply sources.
Khatri said, “We do not want to become a water stressed city, which is why we are acting now.”
The project is expected to secure water availability for the next 20 to 30 years, catering to growing urban demand. It will also ensure clean and reliable piped water supply during the Kumbh, when the city sees a massive influx of pilgrims.
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