The Indian Renewable Energy Development Agency Limited (IREDA) has successfully raised ₹910.37 crore through privately placed subordinated Tier-II bonds. These bonds, issued for a 10-year tenure, carry an annual interest rate of 7.74%.
The capital infusion is intended to enhance IREDA’s Tier-II capital, strengthening its net worth and Capital to Risk-Weighted Assets Ratio (CRAR). This move aligns with the company’s strategy to leverage available liquidity in the financial market to support its borrowing plans and expand funding for renewable energy projects.
IREDA Chairman and Managing Director, Pradip Kumar Das, highlighted that the bond issuance reflects investor confidence in the company’s financial health and long-term strategy. He emphasised that the additional capital will enable IREDA to scale up financing for green energy initiatives, contributing to India’s goal of achieving 500 GW of non-fossil fuel-based energy capacity by 2030.
