IREDA raises ₹910.37 crore via Tier-II bonds

Indian Renewable Energy Development Agency Limited (IREDA) has raised ₹910.37 crore through the issuance of privately placed subordinated Tier-II bonds. The bonds have a 10-year tenor with an annual coupon rate of 7.74%.

The issuance of Tier-II bonds is intended to utilize available liquidity in the financial market and support the company’s borrowing plan. The funds raised will contribute to IREDA’s Tier-II capital, increasing its net worth and Capital to Risk-Weighted Assets Ratio (CRAR). This will enhance the company’s capacity to finance renewable energy projects.

Shri Pradip Kumar Das, Chairman and Managing Director of IREDA, stated that “The successful raising of Tier-II capital reflects investors’ strong confidence in IREDA’s financial strength and strategic vision. This will further empower us to accelerate green energy financing, aligning with the Government of India’s target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030”.

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