Indian Renewable Energy Development Agency Ltd (IREDA) said it has raised ₹453 crore at 7.70% per annum through its second issue of Perpetual Bonds, a step that strengthens its capital base for financing green energy projects.
The issue drew total bids worth ₹1,343 crore against the base size of ₹100 crore and a Green Shoe option of ₹400 crore, resulting in oversubscription by 2.69 times.
Pradip Kumar Das, Chairman and Managing Director, IREDA, said, “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.”
Perpetual Bonds carry unique features, including no maturity or redemption, and are callable only at the company’s option. The securities offer a 7.70% annual coupon with a step-up of 50 basis points once in the lifetime of the bond, if not called after 10 years, the company said.
These hybrid instruments provide equity-like characteristics while offering IREDA a stable, long-term source of capital, it added.
Published – September 11, 2025 10:19 pm IST
