{"id":15656,"date":"2026-08-20T15:40:59","date_gmt":"2026-08-20T10:10:59","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=15656"},"modified":"2026-08-18T17:20:30","modified_gmt":"2026-08-18T11:50:30","slug":"sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/","title":{"rendered":"Sagarmala&#8217;s 12-Year Funding Gap: How Its Blue Bond Strategy Works"},"content":{"rendered":"<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">\ud83d\udcdd Quick Summary:<\/div>\n<h2 class=\"gpi-custom-widget-h2-content\"><span class=\"ez-toc-section\" id=\"Indias_Sagarmala_Programme_has_completed_over_%E2%82%B9157_lakh_crore_worth_of_port_and_coastal_projects_but_the_financing_behind_it_is_changing_fast_Heres_how_Sagarmala_Finance_Corporation_is_shifting_from_bank_borrowings_to_bond_markets_and_what_its_upcoming_blue_bond_means_for_Indias_maritime_economy\"><\/span><strong>India&#8217;s Sagarmala Programme has completed over \u20b91.57 lakh crore worth of port and coastal projects, but the financing behind it is changing fast. Here&#8217;s how Sagarmala Finance Corporation is shifting from bank borrowings to bond markets and what its upcoming blue bond means for India&#8217;s maritime economy.\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n\n\n<p>Most of India&#8217;s port sector relied on financing methods that were largely inappropriate. Port and waterway projects take a long time to recoup the cost of the investment, potentially over a decade. Financing projects of this nature are often incompatible with traditional banking, as loans are typically short-term. <\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Indias_Sagarmala_Programme_has_completed_over_%E2%82%B9157_lakh_crore_worth_of_port_and_coastal_projects_but_the_financing_behind_it_is_changing_fast_Heres_how_Sagarmala_Finance_Corporation_is_shifting_from_bank_borrowings_to_bond_markets_and_what_its_upcoming_blue_bond_means_for_Indias_maritime_economy\" >India&#8217;s Sagarmala Programme has completed over \u20b91.57 lakh crore worth of port and coastal projects, but the financing behind it is changing fast. Here&#8217;s how Sagarmala Finance Corporation is shifting from bank borrowings to bond markets and what its upcoming blue bond means for India&#8217;s maritime economy.\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Sagarmala_Programme_Explained_Funding_Indias_Ports\" >Sagarmala Programme Explained: Funding India&#8217;s Ports&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#How_a_Funding_Gap_Pushed_Sagarmala_Toward_Bonds\" >How a Funding Gap Pushed Sagarmala Toward Bonds&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Sagarmala_Finance_Corporation_Key_Numbers_Funds\" >Sagarmala Finance Corporation: Key Numbers &amp; Funds&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Why_Blue_Bonds_Specifically\" >Why Blue Bonds Specifically?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#What_This_Means_for_Indias_Maritime_Infrastructure_Push\" >What This Means for India&#8217;s Maritime Infrastructure Push&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Conclusion_A_Financing_Model_Catching_Up_With_Maritime_Ambition\" >Conclusion: A Financing Model Catching Up With Maritime Ambition<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Sagarmalas_Bond_Market_Frequently_Asked_Questions\" >Sagarmala\u2019s Bond Market Frequently Asked Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Sources\" >Sources<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#Disclaimer\" >Disclaimer<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>This mismatch is being actively resolved. Sagarmala Finance Corporation Limited (SMFCL), the dedicated financing arm born out of India&#8217;s flagship maritime programme, is committed to developing long-term funding from the <a href=\"https:\/\/goldenpi.com\/blog\/gold-bonds\/gold-price-and-bond-market-in-india\/\" type=\"post\" id=\"13883\">bond market<\/a> rather than short-term funding from banks. This includes the preliminary work associated with issuing India&#8217;s first blue bond. If you follow the financing of India&#8217;s infrastructure and are interested in how the maritime economy is focusing its efforts to improve the health of its balance sheet, this piece provides the who, what, how, and why of these recent changes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sagarmala_Programme_Explained_Funding_Indias_Ports\"><\/span><strong>Sagarmala Programme Explained: Funding India&#8217;s Ports&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Sagarmala Pariyojana, introduced in March 2015, is India&#8217;s major port-led development initiative to modernize ports, enhance coastal connectivity, and boost traffic on inland waterways. After eleven years, over 845 projects valued at \u20b96.06 lakh crore have been taken up, and 315 projects, worth \u20b91.57 lakh crore, have been completed as of March 24, 2026 <sup>[1]<\/sup>. In the past, the funding of such large pipelines meant relying on commercial bank loans and sometimes external commercial borrowings. <\/p>\n\n\n\n<p>For instance, in 2016, the Jawaharlal Nehru Port Trust entered into a dollar-denominated External Commercial Borrowing agreement with SBI and DBS (Singapore), primarily for financing port-connecting road infrastructure. But infrastructure bank credit has its own limitations; most banks prefer a shorter period of credit than is consistent with the longer requirement for the repayment of large port or waterway projects, and this has remained a persistent constraint on the sector.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_a_Funding_Gap_Pushed_Sagarmala_Toward_Bonds\"><\/span><strong>How a Funding Gap Pushed Sagarmala Toward Bonds&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The clearest evidence of why Sagarmala is pivoting to bonds shows up in its own numbers. Sagarmala Finance currently faces an asset-liability mismatch, with its average loan disbursement tenure running around 12 years, while its existing term borrowings from banks average only 3.5 years. That&#8217;s a serious structural problem; lending long while borrowing short is exactly the kind of mismatch that strains a balance sheet over time. Diversifying into longer-tenure bonds is a direct fix.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">A few key steps demonstrate this initiative:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>NBFC <\/strong>conversion\u2014In June 2025, Sagarmala Development Company Limited was restructured into Sagarmala Finance Corporation Limited, India\u2019s first maritime-sector-specific NBFC, giving it a formal platform to raise debt.<\/li>\n\n\n\n<li><strong>\u20b98,000 crore FY26 borrowing plan:<\/strong> SMFCL planned to raise up to \u20b98,000 crore during FY2025\u201326 through banks, financial institutions, and debt\/bond issuances to support its financing activities <sup>[2]<\/sup>.\u00a0<\/li>\n\n\n\n<li><strong>A bigger ask for <\/strong>FY27\u2014According to Reuters, SMFCL plans to raise \u20b9100 billion (\u20b910,000 crore) in FY2027 to fund greenfield and brownfield ports, shipbuilding, inland waterways, and coastal connectivity <sup>[3]<\/sup>.<\/li>\n\n\n\n<li><strong>A first-of-its-kind blue <\/strong>bond\u2014SMFCL intends to issue up to \u20b91,000 crore through India\u2019s first blue bond, with a \u20b9500 crore greenshoe option, and has appointed Trust Capital, AK Capital, and Tipsons as advisers on the transaction.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Latest Bond Updates:<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20160023\/New-Income-Tax-Act-2025-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"New Income Tax Act 2025\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20160023\/New-Income-Tax-Act-2025-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20160023\/New-Income-Tax-Act-2025-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20160023\/New-Income-Tax-Act-2025-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20160023\/New-Income-Tax-Act-2025-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20160023\/New-Income-Tax-Act-2025.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/new-income-tax-act-2025-what-changes-for-bond-investors-in-2026\/\">New Income Tax Act 2025: What Changes for Bond Investors in 2026?<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Sagarmala 12 Year Funding Gap\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\">Sagarmala&#8217;s 12-Year Funding Gap: How Its Blue Bond Strategy Works<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20150240\/Now-Corporate-Bond-Rules-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Now Corporate Bond Rules\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20150240\/Now-Corporate-Bond-Rules-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20150240\/Now-Corporate-Bond-Rules-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20150240\/Now-Corporate-Bond-Rules-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20150240\/Now-Corporate-Bond-Rules-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/20150240\/Now-Corporate-Bond-Rules.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/new-corporate-bond-rules-what-changes-for-retail-investors\/\">New Corporate Bond Rules: What Changes for Retail Investors?<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sagarmala_Finance_Corporation_Key_Numbers_Funds\"><\/span><strong>Sagarmala Finance Corporation: Key Numbers &amp; Funds&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Metric<\/strong><\/td><td><strong>Figure<\/strong><\/td><\/tr><tr><td>Maritime Development Fund corpus<\/td><td>\u20b925,000 crore<\/td><\/tr><tr><td>Maritime Investment Fund<\/td><td>\u20b920,000 crore<\/td><\/tr><tr><td>Interest Incentivisation Fund<\/td><td>\u20b95,000 crore<\/td><\/tr><tr><td>FY26 mobilisation target<\/td><td>\u20b98,000 crore<\/td><\/tr><tr><td>FY27 planned fundraising<\/td><td>Up to \u20b910,000 crore<\/td><\/tr><tr><td>Proposed maiden blue bond<\/td><td>Up to \u20b91,000 crore (\u20b9500 crore + \u20b9500 crore greenshoe)<\/td><\/tr><tr><td>Loan sanctions as of Dec. 2025<\/td><td>~\u20b94,300 crore<\/td><\/tr><tr><td>Loan sanctions as of Mar. 31, 2026<\/td><td>~\u20b97,173.8 crore<\/td><\/tr><tr><td>Average loan-asset tenure\/gestation<\/td><td>~12 years<\/td><\/tr><tr><td>Average borrowing repayment period<\/td><td>~3.5 years<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p><em>Sources: PIB<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Blue_Bonds_Specifically\"><\/span><strong>Why Blue Bonds Specifically?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Blue bonds are similar to <a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sovereign-green-bonds-in-india-latest-issuances-returns\/\" type=\"post\" id=\"15591\">green bonds<\/a> but are dedicated loans that finance ocean- and water-linked projects. Total global issuance of blue bonds stood at $15 billion by mid-2025, with the Bank of China issuing Asia&#8217;s first blue bond in 2020 and some island nations like Seychelles among early sovereign issuers. For SMFCL, issuing these bonds is not just about ticking a box, as blue bonds finance marine energy, sustainable fishing, ports, and coastal infrastructure projects in line with the funding needs of Sagarmala 2.0. Additionally, SMFCL would get a chance to access a particular segment of ESG-related global investors who are quite picky in their investments, something a plain-vanilla bond would not necessarily attract.\u00a0<\/p>\n\n\n\n<p>But there are challenges, and the timing is not perfect: India&#8217;s benchmark 10-year government bond yield increased by approximately 35 basis points after the US-Iran conflict began. This has negatively impacted activity in bond markets, a reminder that even the best-designed bond plans are only successful if the right market opportunities exist.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_This_Means_for_Indias_Maritime_Infrastructure_Push\"><\/span><strong>What This Means for India&#8217;s Maritime Infrastructure Push&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This story goes beyond a single NBFC changing funding sources; it demonstrates India&#8217;s preference for alternative means of funding large and time-consuming infrastructure projects. As ports corporatize, they gain access to financing through the capital markets via bonds rather than relying solely on bank loans, a structural change that supports projects like Sagarmala and new ports such as Vadhavan. With Sagarmala 2.0 looking to allocate \u20b985,482 crore to support \u20b93.6 lakh crore of total investment, this sector will need to utilize every financing method it can employ, and bonds, blue or otherwise, look set to carry a growing share of that load.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion_A_Financing_Model_Catching_Up_With_Maritime_Ambition\"><\/span><strong>Conclusion: A Financing Model Catching Up With Maritime Ambition<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>India&#8217;s ports have always had the potential to matter on a global scale; with a coastline that stretches 7,500 km and a growing cargo base, this is natural. However, the largest-scale ports have always needed financing structures for long-term infrastructure projects. Sagarmala Finance Corporation&#8217;s recent pivot towards bonds, with the planned debut of blue bonds, is clearly responding to this gap. It won&#8217;t fix the sector&#8217;s funding needs overnight, and market conditions will keep testing the timing of each issuance. But the direction is clear: India&#8217;s maritime infrastructure is moving away from short-term bank debt and toward capital-market instruments built to match how long these assets actually take to earn their keep.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sagarmalas_Bond_Market_Frequently_Asked_Questions\"><\/span><strong>Sagarmala\u2019s Bond Market Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1787047967341\"><strong class=\"schema-faq-question\">Q1. <strong>What is the 12-year mismatch at Sagarmala Finance Corporation?<\/strong><\/strong> <p class=\"schema-faq-answer\">Sagarmala Finance Corporation\u2019s loans typically have a much longer tenure than its existing borrowings. Its current borrowings average around 3.5 years, while the loans it provides can have an average tenor of about 12 years, creating an asset-liability mismatch.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787047978156\"><strong class=\"schema-faq-question\">Q2. <strong>Why is the asset-liability mismatch a problem?<\/strong><\/strong> <p class=\"schema-faq-answer\">If an NBFC lends for 12 years but funds those loans with debt that matures much sooner, it must repeatedly refinance its borrowings. This can expose it to higher refinancing and interest-rate risks.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787047987816\"><strong class=\"schema-faq-question\">Q3. <strong>How can bonds help Sagarmala Finance fix the mismatch?<\/strong><\/strong> <p class=\"schema-faq-answer\">Longer-tenure bonds can give SMFCL funding that better matches the duration of its loans. This can reduce reliance on short-term or medium-term borrowing and improve the alignment between its assets and liabilities.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787048035547\"><strong class=\"schema-faq-question\">Q4. <strong>What is a blue bond?<\/strong><\/strong> <p class=\"schema-faq-answer\">A blue bond is a debt instrument designed to raise funds for projects linked to oceans, marine ecosystems, water resources, or the broader blue economy. Sagarmala\u2019s proposed issue is intended to channel bond-market funding toward maritime infrastructure.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1787048046712\"><strong class=\"schema-faq-question\">Q5. <strong>What are Sagarmala Finance\u2019s proposed blue bonds?<\/strong><\/strong> <p class=\"schema-faq-answer\">The corporation plans to issue what has been described as India\u2019s first blue bond, with a proposed base issue of \u20b9500 crore and a greenshoe option of another \u20b9500 crore, for a potential total of \u20b91,000 crore. The funds are intended to support maritime-related projects.<\/p> <\/div> <\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sources\"><\/span><strong>Sources<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><a rel=\"nofollow\" href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2251071&amp;lang=1&amp;reg=3&amp;\">https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2251071&amp;lang=1&amp;reg=3&amp;<\/a>\u00a0<\/li>\n\n\n\n<li><a rel=\"nofollow\" href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2210308&amp;lang=2&amp;reg=48&amp;\">https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2210308&amp;lang=2&amp;reg=48&amp;<\/a>\u00a0<\/li>\n\n\n\n<li><a rel=\"nofollow\" href=\"https:\/\/economictimes.indiatimes.com\/news\/economy\/finance\/indias-first-maritime-focused-lender-eyes-1-bln-fy27-fundraise\/articleshow\/130326673.cms\">https:\/\/economictimes.indiatimes.com\/news\/economy\/finance\/indias-first-maritime-focused-lender-eyes-1-bln-fy27-fundraise\/articleshow\/130326673.cms<\/a>\u00a0<\/li>\n<\/ol>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Ready to Invest?<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p>Visit <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a> to explore current bond options. Compare yields, ratings, and tenures in one place and invest online with as little as \u20b930,000.<\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities\/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and\/or default in payment. Read all the offer-related documents carefully. This blog\/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products\/services of\/on GoldenPi or any product\/services of its third-party client(s). For a detailed calculation of YTM, visit our website.&nbsp;<a href=\"https:\/\/delivery.goldenpi.com\/XPRBSN?id=162365=ch0GCFVXBVBUH1QDUlZXUlgBVgNSUwJVWgQGDFJQAVsEUwRfBldSBFVUAglRBFJSAA0ZBgxfQFBbERxBFSNTV10FU1cTDBgFDg5OAFIKVVFQBlZTVwQBBgFSAg0aC0BMQRIMFkwBUwoIFVdDHBwCCw1QAAsTWBpSVwgebDYxdmt\/Xl9dHxMF&amp;fl=WRVCSRBfGUkETltfVwNLAxVbCQwNWhpYVkpFGwMOBRcEWQMNUEoHSQJaV1BQAQQHTAZXA1IcAAMOBBxWB1IMFQUEVQxXXAEFBVQEUkpTVlMCUFEHU1JVAwhUAFECAQZaVFEADVAAVQBXVFRUUw==\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;C\u2019s Apply<\/a>.<\/p>\n\n\n\n<script type=\"application\/ld+json\">\n[\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"NewsArticle\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#article\",\n    \"isPartOf\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\"\n    },\n    \"headline\": \"Sagarmala's 12-Year Funding Gap: How Its Blue Bond Strategy Works\",\n    \"description\": \"How is Sagarmala actually funded? Explore Sagarmala Finance Corporation's shift from bank borrowings to bond markets, blue bonds, and port infrastructure financing.\",\n    \"image\": {\n      \"@type\": \"ImageObject\",\n      \"url\": \"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg\",\n      \"width\": 1600,\n      \"height\": 900\n    },\n    \"datePublished\": \"2026-08-20T15:40:59+05:30\",\n    \"dateModified\": \"2026-08-18T16:01:13+05:30\",\n    \"mainEntityOfPage\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\"\n    },\n    \"wordCount\": 1150,\n    \"commentCount\": 0,\n    \"inLanguage\": \"en-US\",\n    \"publisher\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/#organization\"\n    },\n    \"author\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/kunal-arora-ca\"\n    },\n    \"about\": [\n      {\n        \"@type\": \"Thing\",\n        \"name\": \"Sagarmala Programme\",\n        \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Sagarmala_programme\"\n      },\n      {\n        \"@type\": \"Thing\",\n        \"name\": \"Blue bond\",\n        \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Blue_bond\"\n      },\n      {\n        \"@type\": \"Thing\",\n        \"name\": \"Bond\",\n        \"sameAs\": \"https:\/\/en.wikipedia.org\/wiki\/Bond_(finance)\"\n      }\n    ],\n    \"mentions\": [\n      {\n        \"@type\": \"Organization\",\n        \"name\": \"Sagarmala Finance Corporation Limited\",\n        \"alternateName\": \"SMFCL\"\n      }\n    ]\n  },\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"FAQPage\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#faq\",\n    \"isPartOf\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\"\n    },\n    \"mainEntity\": [\n      {\n        \"@type\": \"Question\",\n        \"name\": \"What is the 12-year mismatch at Sagarmala Finance Corporation?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"Sagarmala Finance Corporation\u2019s loans typically have a much longer tenure than its existing borrowings. Its current borrowings average around 3.5 years, while the loans it provides can have an average tenor of about 12 years, creating an asset-liability mismatch.\"\n        }\n      },\n      {\n        \"@type\": \"Question\",\n        \"name\": \"Why is the asset-liability mismatch a problem?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"If an NBFC lends for 12 years but funds those loans with debt that matures much sooner, it must repeatedly refinance its borrowings. This can expose it to higher refinancing and interest-rate risks.\"\n        }\n      },\n      {\n        \"@type\": \"Question\",\n        \"name\": \"How can bonds help Sagarmala Finance fix the mismatch?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"Longer-tenure bonds can give SMFCL funding that better matches the duration of its loans. This can reduce reliance on short-term or medium-term borrowing and improve the alignment between its assets and liabilities.\"\n        }\n      },\n      {\n        \"@type\": \"Question\",\n        \"name\": \"What is a blue bond?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"A blue bond is a debt instrument designed to raise funds for projects linked to oceans, marine ecosystems, water resources, or the broader blue economy. Sagarmala\u2019s proposed issue is intended to channel bond-market funding toward maritime infrastructure.\"\n        }\n      },\n      {\n        \"@type\": \"Question\",\n        \"name\": \"What are Sagarmala Finance\u2019s proposed blue bonds?\",\n        \"acceptedAnswer\": {\n          \"@type\": \"Answer\",\n          \"text\": \"The corporation plans to issue what has been described as India\u2019s first blue bond, with a proposed base issue of \u20b9500 crore and a greenshoe option of another \u20b9500 crore, for a potential total of \u20b91,000 crore. The funds are intended to support maritime-related projects.\"\n        }\n      }\n    ]\n  },\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"WebPage\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\",\n    \"url\": \"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\",\n    \"name\": \"Sagarmala's 12-Year Funding Gap: How Its Blue Bond Strategy Works\",\n    \"isPartOf\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/#website\"\n    },\n    \"primaryImageOfPage\": {\n      \"@type\": \"ImageObject\",\n      \"url\": \"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg\"\n    },\n    \"description\": \"How is Sagarmala actually funded? Explore Sagarmala Finance Corporation's shift from bank borrowings to bond markets, blue bonds, and port infrastructure financing.\",\n    \"inLanguage\": \"en-US\"\n  },\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"Person\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/kunal-arora-ca\",\n    \"name\": \"Kunal Arora | CA\",\n    \"jobTitle\": \"Financial Controller\",\n    \"description\": \"Kunal Arora is a Chartered Accountant and finance expert with over 8 years of expertise in navigating the complex financial heart of India\u2019s leading NBFCs. As a Financial Controller at Oxyzo, Kunal focuses on the core pillars of financial integrity - transparency, regulatory excellence and the strategic reporting that builds investor trust.\",\n    \"url\": \"https:\/\/goldenpi.com\/blog\/author\/kunal-arora\/\",\n    \"sameAs\": [\n      \"https:\/\/www.linkedin.com\/in\/ca-kunal-arora-005299158\/\"\n    ]\n  },\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"Organization\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/#organization\",\n    \"name\": \"GoldenPi Technology Pvt Ltd\",\n    \"url\": \"https:\/\/goldenpi.com\/blog\/\",\n    \"logo\": {\n      \"@type\": \"ImageObject\",\n      \"url\": \"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/05\/08120536\/Logo-01-scaled.png\"\n    },\n    \"sameAs\": [\n      \"https:\/\/www.facebook.com\/goldenpitech\",\n      \"https:\/\/x.com\/GoldenPiTech\",\n      \"https:\/\/www.linkedin.com\/company\/goldenpi\/\"\n    ]\n  },\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"WebSite\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/#website\",\n    \"url\": \"https:\/\/goldenpi.com\/blog\/\",\n    \"name\": \"GoldenPi | Blogs\",\n    \"description\": \"All about bonds online in India\"\n  }\n]\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udcdd Quick Summary: India&#8217;s Sagarmala Programme has completed over \u20b91.57 lakh crore worth of port and coastal projects, but the financing behind&hellip;<\/p>\n","protected":false},"author":16,"featured_media":15657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-15656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bond-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sagarmala&#039;s 12-Year Funding Gap: How Its Blue Bond Strategy Works<\/title>\n<meta name=\"description\" content=\"Sagarmala Finance lends for about 12 years but relies on shorter-term funding. Learn how its planned blue bond could help bridge the asset-liability mismatch and fund maritime projects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sagarmala&#039;s 12-Year Funding Gap: How Its Blue Bond Strategy Works\" \/>\n<meta property=\"og:description\" content=\"Sagarmala Finance lends for about 12 years but relies on shorter-term funding. Learn how its planned blue bond could help bridge the asset-liability mismatch and fund maritime projects.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/\" \/>\n<meta property=\"og:site_name\" content=\"GoldenPi | Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goldenpitech\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-20T10:10:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kunal Arora | CA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:site\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kunal Arora | CA\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sagarmala's 12-Year Funding Gap: How Its Blue Bond Strategy Works","description":"Sagarmala Finance lends for about 12 years but relies on shorter-term funding. Learn how its planned blue bond could help bridge the asset-liability mismatch and fund maritime projects.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/","og_locale":"en_US","og_type":"article","og_title":"Sagarmala's 12-Year Funding Gap: How Its Blue Bond Strategy Works","og_description":"Sagarmala Finance lends for about 12 years but relies on shorter-term funding. Learn how its planned blue bond could help bridge the asset-liability mismatch and fund maritime projects.","og_url":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/","og_site_name":"GoldenPi | Blogs","article_publisher":"https:\/\/www.facebook.com\/goldenpitech","article_published_time":"2026-08-20T10:10:59+00:00","og_image":[{"width":1600,"height":900,"url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg","type":"image\/jpeg"}],"author":"Kunal Arora | CA","twitter_card":"summary_large_image","twitter_creator":"@GoldenPiTech","twitter_site":"@GoldenPiTech","twitter_misc":{"Written by":"Kunal Arora | CA","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#article","isPartOf":{"@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/"},"author":{"name":"Kunal Arora | CA","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/d3fccd8baf9a3fda41c1c5356272ce8d"},"headline":"Sagarmala&#8217;s 12-Year Funding Gap: How Its Blue Bond Strategy Works","datePublished":"2026-08-20T10:10:59+00:00","mainEntityOfPage":{"@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/"},"wordCount":1429,"commentCount":0,"publisher":{"@id":"https:\/\/goldenpi.com\/blog\/#organization"},"image":{"@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#primaryimage"},"thumbnailUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg","articleSection":["Bond News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/","url":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/","name":"Sagarmala's 12-Year Funding Gap: How Its Blue Bond Strategy Works","isPartOf":{"@id":"https:\/\/goldenpi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#primaryimage"},"image":{"@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#primaryimage"},"thumbnailUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg","datePublished":"2026-08-20T10:10:59+00:00","description":"Sagarmala Finance lends for about 12 years but relies on shorter-term funding. Learn how its planned blue bond could help bridge the asset-liability mismatch and fund maritime projects.","breadcrumb":{"@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#primaryimage","url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg","contentUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/18160051\/Sagarmala-12-Year-Funding-Gap.jpg","width":1600,"height":900,"caption":"Sagarmala 12 Year Funding Gap"},{"@type":"BreadcrumbList","@id":"https:\/\/goldenpi.com\/blog\/bond-news\/sagarmalas-12-year-funding-gap-how-its-blue-bond-strategy-works\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/goldenpi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Sagarmala&#8217;s 12-Year Funding Gap: How Its Blue Bond Strategy Works"}]},{"@type":"WebSite","@id":"https:\/\/goldenpi.com\/blog\/#website","url":"https:\/\/goldenpi.com\/blog\/","name":"GoldenPi | Blogs","description":"All about bonds online in India","publisher":{"@id":"https:\/\/goldenpi.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/goldenpi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/goldenpi.com\/blog\/#organization","name":"GoldenPi Technology Pvt Ltd","url":"https:\/\/goldenpi.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/05\/08120536\/Logo-01-scaled.png","contentUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/05\/08120536\/Logo-01-scaled.png","width":2560,"height":750,"caption":"GoldenPi Technology Pvt Ltd"},"image":{"@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/goldenpitech","https:\/\/x.com\/GoldenPiTech","https:\/\/www.linkedin.com\/company\/goldenpi\/"]},{"@type":"Person","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/d3fccd8baf9a3fda41c1c5356272ce8d","name":"Kunal Arora | CA","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog","url":"https:\/\/goldenpi.com\/blog","contentUrl":"https:\/\/goldenpi.com\/blog","caption":"Kunal Arora | CA"},"description":"Kunal Arora is a Chartered Accountant and finance expert with over 8 years of expertise in navigating the complex financial heart of India\u2019s leading NBFCs. As a Financial Controller at Oxyzo, Kunal focuses on the core pillars of financial integrity - transparency, regulatory excellence and the strategic reporting that builds investor trust.","sameAs":["https:\/\/www.linkedin.com\/in\/ca-kunal-arora-005299158\/"],"url":"https:\/\/goldenpi.com\/blog\/author\/kunal-arora\/"}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/15656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/comments?post=15656"}],"version-history":[{"count":2,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/15656\/revisions"}],"predecessor-version":[{"id":15660,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/15656\/revisions\/15660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media\/15657"}],"wp:attachment":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media?parent=15656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/categories?post=15656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/tags?post=15656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}