New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully concluded a Qualified Institutions Placement (QIP), raising a significant ₹2,005.90 crore to bolster its capacity to finance India’s rapidly expanding renewable energy sector. The oversubscribed issue underscores robust investor confidence in IREDA’s pivotal role in the nation’s green energy transition.
The capital was mobilized through the issuance of 12.15 crore equity shares at a price of ₹165.14 per share, which includes a premium of ₹155.14 over the face value of ₹10. Notably, this issue price reflects a 5.00% discount to the floor price of ₹173.83 per equity share.
Launched on June 5, 2025, and closing on June 10, 2025, the QIP received an enthusiastic response from a diverse range of domestic and foreign qualified institutional buyers (QIBs), including insurance companies, scheduled commercial banks, and foreign portfolio investors. The QIP was oversubscribed 1.34 times, with bids totaling ₹2,005.90 crore against a base issue size of ₹1,500 crore. The Board of Directors officially approved the allotment of equity shares to eligible QIBs in a meeting held today, June 11, 2025.
This substantial capital infusion is set to significantly strengthen IREDA’s Tier-I capital and overall Capital Adequacy Ratio (CAR). This enhanced financial strength will empower IREDA to ramp up its financing activities, thereby facilitating greater investments in critical renewable energy projects across India.
Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, commented on this achievement: “The successful completion of this QIP, coming shortly after our IPO in November 2023, is a clear testament to the trust and confidence the investor community and the Ministry of New & Renewable Energy have placed in IREDA. This capital infusion will enable us to significantly scale up our financing, driving increased investments in renewable energy projects and accelerating India’s journey towards a greener and more sustainable energy future.”
CMD, IREDA expressed his gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy; Shri Santosh Kumar Sarangi, Secretary, MNRE; Department of Investment and Public Asset Management (DIPAM); and the Board of Directors for their support and invaluable guidance.
Shri Das extended his gratitude to other key government officials and stakeholders, emphasizing their invaluable support and guidance. IREDA reiterated its unwavering commitment to leading India’s clean energy financing initiatives, which are crucial for the country’s ambitious renewable energy targets, including achieving 500 GW of non-fossil fuel capacity by 2030.
The successful QIP reflects the growing appetite for green financing in India and positions IREDA strongly to continue its vital contribution to the nation’s clean energy transformation.