New Delhi
IREDA (Indian Renewable Energy Development Agency Ltd) has successfully raised ₹453 crore through its second issue of perpetual bonds, the company announced on Thursday. The bonds offer a 7.70% annual interest rate and received a strong investor response, with bids worth ₹1,343 crore, making the issue 2.69 times oversubscribed.
The base size was ₹100 crore with a green shoe option of ₹400 crore. IREDA said the funds will strengthen its capital base and support financing of renewable energy projects across India.
CMD Pradip Kumar Das thanked investors for their trust and said the strong interest reflects confidence in IREDA’s mission to support India’s green energy goals. “These bonds will boost our Tier-I Capital and accelerate India’s renewable energy transition,” he added.
Perpetual bonds are hybrid instruments with no fixed maturity date and can be redeemed at the issuer’s discretion. They offer stable, long-term capital and steady returns to investors. A one-time 50 basis points step-up applies if not called after 10 years.
Earlier this year, IREDA also raised over ₹2,005 crore through Qualified Institutional Placement (QIP), strengthening its financial position to back clean energy initiatives.