IREDA Secures ₹910.37 Crore Through Strategic Bond Issuance
The Indian Renewable Energy Development Agency Limited (IREDA) has made a significant financial move, raising ₹910.37 crore through privately placed subordinated tier-II bonds. This strategic fundraising is set to bolster the agency's capacity to support India's ambitious green energy transformation.
Bond Issuance Details
- Bond Tenure: 10 years
- Annual Coupon Rate: 7.74%
- Purpose: Enhance tier-II capital and support renewable energy financing
Strategic Significance
IREDA's Chairman and Managing Director, Pradip Kumar Das, highlighted the importance of this fundraising, stating that it reflects investors' confidence in the agency's financial strength and strategic vision.
Ambitious Borrowing Plan
In a complementary move, IREDA has approved an extensive borrowing plan of ₹30,800 crore for the financial year 2025-26. This comprehensive strategy includes:
- Issuance of bonds
- Securing loans
- Exploring alternative funding mechanisms
- Potential green bond issuance
- Consideration of foreign currency loans
National Energy Goals
The fundraising aligns perfectly with the Government of India's ambitious target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030. By diversifying funding sources, IREDA aims to attract both domestic and international investors to support sustainable energy projects.
Financial Impact
The bond issuance will have several key benefits:
- Increase IREDA's net worth
- Improve capital to risk-weighted assets ratio (CRAR)
- Strengthen the company's ability to finance clean energy transitions
Market Performance
As of the latest trading session, IREDA's shares closed at ₹169.85, experiencing a slight dip of ₹0.20 or 0.12% on the BSE.
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