New Delhi: The Indian Renewable Energy Development Agency Limited (IREDA) has successfully raised ₹453 crore through its second issue of Perpetual Bonds, securing a significant capital injection to fund green energy projects across India.
Shri Pradip Kumar Das, IREDA’s Chairman and Managing Director, expressed gratitude for the positive response, stating that the funds will bolster the company’s Tier-I Capital.
This enhanced financial capacity will enable IREDA to scale up its lending to the renewable energy sector, thereby accelerating the nation’s shift toward a cleaner, more sustainable future.
The bonds were issued at an annual coupon rate of 7.70%, attracting overwhelming investor interest that resulted in a substantial oversubscription.
The bond issue, which had a base size of ₹100 crore and a Green Shoe option of ₹400 crore, saw total bids worth ₹1,343 crore. This robust demand led to an oversubscription of 2.69 times, highlighting strong investor confidence in IREDA’s pivotal role in financing India’s renewable energy transition.
The perpetual bonds have no fixed maturity or redemption date, making them a long-term capital source for IREDA. They are callable at the company’s discretion and feature a 7.70% annual coupon.
The bonds also include a step-up clause of 50 basis points (0.50%) if they are not called after 10 years. These hybrid instruments are senior to share capital and provide IREDA with stable, long-term funding while offering investors a steady return.
Under the leadership of Shri Pradip Kumar Das, Indian Renewable Energy Development Agency Limited (IREDA) has a strategic focus on several key areas to accelerate India’s clean energy transition.