New Delhi: Indian Renewable Energy Development Agency Limited (IREDA), a PSU under the Ministry of New and Renewable Energy, has successfully raised ₹453 crore through its second issue of Perpetual Bonds at an annual coupon rate of 7.70%. The strong response highlights the rising investor confidence in India’s renewable energy sector.
Strong Investor Demand
The bond issue received bids worth ₹1,343 crore against a base size of ₹100 crore and a green shoe option of ₹400 crore. The oversubscription by 2.69 times demonstrates robust market trust in IREDA’s financial strength and its growing role in advancing clean energy projects across the country.
CMD’s Statement on Green Financing Push
Pradip Kumar Das, Chairman and Managing Director of IREDA, stated: “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.”
Features of the Perpetual Bonds
Perpetual Bonds are hybrid instruments with no maturity or redemption date and can only be called at the issuer’s option. The securities carry an annual coupon of 7.70% with a 50 basis point step-up once in the bond’s lifetime if not called after 10 years. Ranking senior to share capital, they combine equity-like features with the benefit of stable, long-term capital for IREDA.
About IREDA
Indian Renewable Energy Development Agency Limited (IREDA) is a Mini-Ratna PSU dedicated to financing renewable energy and energy efficiency projects in India. Since its inception, IREDA has played a pivotal role in mobilizing capital for clean energy initiatives, supporting India’s mission to achieve a sustainable, low-carbon future.
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