Indian Renewable Energy Development Agency Limited (IREDA) has successfully raised Rs 453 crore through its second issue of perpetual bonds at an interest rate of 7.70% per annum. The issue was oversubscribed by 2.69 times, with total bids worth Rs 1,343 crore against a base size of Rs 100 crore and a green shoe option of Rs 400 crore.
These perpetual bonds, which have no maturity date and are callable only at IREDA’s option, carry a 7.70% annual coupon with a one-time step-up of 50 basis points if not redeemed after 10 years. This capital infusion will strengthen IREDA’s Tier-I Capital, enabling the agency to scale up financing for renewable energy projects and accelerate India’s transition to a greener and more sustainable future.
IREDA Chairman and Managing Director Pradip Kumar Das thanked investors for their overwhelming response and expressed commitment to delivering greater value to the renewable energy ecosystem and the nation.
