IREDA raises Rs 453 cr in 7.70% perpetual bonds issuance

Indian Renewable Energy Development Agency (IREDA) has raised Rs. 453 crores at 7.70% per annum through its second issue of Perpetual Bonds today, marking a significant step in strengthening its capital base for financing green energy projects.

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. 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.

Commenting on the fund raising, Shri Pradip Kumar Das, Chairman and Managing Director, IREDA, 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. I sincerely thank all the investors for their overwhelming response and continued trust in IREDA, which motivates us to deliver even greater value to the renewable energy ecosystem and the nation.?

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