IREDA raises Rs 453 crore via perpetual bonds

IREDA raises Rs 453 crore via perpetual bonds

State-owned Indian Renewable Energy Development Agency (IREDA) on Thursday said it has raised Rs 453 crore through issuance of perpetual bonds.

The issue drew strong investor interest, with total bids worth Rs 1,343 crore against the base size of Rs 100 crore and a Green-Shoe option of Rs 400 crore, a company statement said.

This resulted in oversubscription by 2.69 times, reflecting growing confidence in IREDA’s role as a leading financier of India’s renewable energy sector, it said further.

According to the statement, IREDA has raised Rs 453 crore at 7.70 per cent per annum through its second issue of Perpetual Bonds, marking a significant step in strengthening its capital base for financing green energy projects.

IREDA Chairman and Managing Director Pradip Kumar Das said, "These bonds will strengthen our Tier-I Capital and help scale up renewable energy financing, accelerating India’s transition to a greener and more sustainable future.”