IREDA plans to raise Rs 400 cr through bonds

21 Sep 2022 , 08:57 AM

According to three merchant bankers on Wednesday, the Indian Renewable Energy Development Agency, or IREDA, intends to collect at least Rs400 crore through the issuance of bonds with maturity dates in October 2025 and 2032.

Bankers and investors were asked to submit coupon and commitment bids by Friday, according to the state-run firm. The bonds’ maturities are set for three years and sixteen days and ten years and fifteen days, respectively, and each offering contains a greenshoe option to keep an extra ten billion rupees.

The notes’ subscription period will end the next week and are rated AA+ by ICRA, CARE Ratings, and India Ratings. The firm raised 1.06 billion rupees in February through bonds with a three-year, one-month, and 14-day maturity date with a 5.98% annual yield.

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