IREDA collects ₹453 Crore via issue of perpetual bonds

12 Sep 2025 , 12:50 PM

Indian Renewable Energy Development Agency Limited (IREDA) announced that it successfully raised ₹453 Crore via issue of perpetual bonds at an interest rate of 7.70% per annum. With this issue, IREDA could be able to strengthen its capital base to finance its green energy projects across the country.

At around 12.27 PM, IREDA was trading 0.41% higher at ₹147.23, against the previous close of ₹146.03 on NSE. The counter touched an intraday high and low of ₹148.46, and ₹146.80, respectively.

The company informed that the issue received diligent participation from investors. The company has received aggregate bids of ₹1,343 Crore. The issue has a base size of ₹100 Crore along with a green shoe option of ₹400 Crore. The issue has been subscribed by 2.69 times.

This reflects investor confidence in the company’s major role in the Indian renewable energy sector as a leading financier.

Perpetual bonds generally have no maturity or redemption and only the company has an option to call such bonds. These securities are issued at a  7.70% annual coupon rate. This also has a step-up of 50 basis points once in a lifetime, if not called by the company after a period of 10 years.

In its results for the quarter ended June 2025, the company posted a 35.70% y-o-y decline in its net profit at ₹257 Crore. In the previous corresponding quarter, the business posted a net profit of ₹384 Crore.

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