Debt

Debt financing

Renewable energy player IREDA raises Rs.453-Cr through perpetual bonds

Company Announcement   Economic Times   Indian Renewable Energy Development Agency (IREDA)  

State-owned Indian Renewable Energy Development Agency (IREDA) has raised INR 453 crore through the issue of perpetual bonds at 7.70% per annum. The issue was oversubscribed 2.69 times and drew bids for INR 1,343 crore against an offer size of INR 500 crore (INR 100 crore and a Green-Shoe option of INR 400 crore)The funding will be used by the company for strengthening its Tier-I Capital and helping scale up renewable energy financing.