IREDA plans to raise 1000 cr via bond issue; files DRHP

New Delhi based company "Indian Renewable Energy Development Agency Limited" (IREDA) has filed DRHP for its public issue of tax free, secured, redeemable, nonconvertible bonds in the nature of debentures of face value of Rs 1,000 each for an amount aggregating up to Rs 1,000 crores in fiscal 2014. The bonds will be issued in one or more tranches.

The company is a non-banking financial institution registered with RBI, engaged in extending financing services to projects and schemes for generating electricity and energy through renewable sources and conserving energy through energy efficiency.

The proceeds of the issue may be utilised towards financing renewable energy and energy efficiency projects and augmenting our resource base.

The bonds shall be listed on the BSE and NSE within 12 Working Days from the issue closure date.

Karvy, AK Capital and RR Investors will be the lead manager, Link Intime India Private Limited will be the registrar to the issue. However, SBICAP Trustee Company Limited has appointed as a debenture trustee to the issue.