India’s First Blue Bond Attempt — New Direction for Maritime Finance
3 October 2026
PRERNA FOR IAS
Mehnat Aapki, Guidance Humari
Roz ki Prelims Practice — Experts ke Saath
India’s First Blue Bond Attempt — New Direction for Maritime Finance
Context: Sagarmala Finance Corporation Limited (SMFCL), a public-sector maritime finance company under the Ministry of Ports, Shipping and Waterways, attempted India’s first Blue Bond issuance on 28 September 2026. The proposed 10-year issue aimed to raise ₹600 crore, comprising a ₹100-crore base issue and a ₹500-crore greenshoe option. However, the issue was withdrawn after investor bids demanded a higher coupon than SMFCL was willing to pay. Thus, it should presently be described as India’s first proposed/attempted Blue Bond issuance, not a successfully completed issue.
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India's first Blue Bond issuance attempt by SMFCL aimed to raise ₹600 crore for maritime and coastal projects but was withdrawn due to higher investor coupon demands.
Keywords
blue bondSMFCLmaritime financeSagarmala Financeblue economygreen debt securitiessustainable shippingcoastal infrastructureSDG-14blue finance