| Karaj Municipality, 18% 21jul2024, IRR (SK2Q) (IRB5SK020348) |
| Ardabil Municipality, 18% 1oct2025, IRR (IRB5AD020479) |
| Tehran Municipality, 18% 19mar2023, IRR (T1SQ) (IRB5SH1T01C6) |
| Tehran Municipality, 18% 18mar2025, IRR (IRB5AE3003C1) |
| Mashhad Municipality, 21% 11jan2019, IRR (OMAQ) (IRB3OMAZ97A4) |
| Mashhad Municipality, 21% 11jan2019, IRR (OMLQ) (IRB3OMLZ97A1) |
| Mashhad Municipality, 18% 19mar2023, IRR (SH2Q) (IRB5SH2M01C9) |
| Tehran Municipality, 18% 19mar2023, IRR (T2SQ) (IRB5SH2T01C4) |
| Hamedan Municipality, 18% 21jul2024, IRR (IRB5HM013047) |
| Tehran Municipality, 18% 15mar2020, IRR (METQ) (IRB5METR98C1) |
| Mashhad Municipality, 18% 17mar2024, IRR (SH6Q) (IRB5SH6M02C8) |
| Shandiz Municipality, 18% 21sep2025, IRR (IRB5AE000462) |
| Mashhad Municipality, 18% 16mar2026, IRR (IRB5AE1104C9) |
| Shiraz Municipality, 18% 16mar2026, IRR (IRB5AE2504C9) |