Mumbai, Sept 15: Indian Renewable Energy Development Agency Limited (IREDA) successfully raised Rs. 453 crore at 7.70% per annum through its second Perpetual Bond issue.
The offering, which garnered bids worth Rs. 1,343 crore against a base size of Rs. 100 crore plus a Rs. 400 crore Green Shoe option (oversubscribed 2.69 times), will strengthen IREDA’s capital base for financing green energy projects and bolster its Tier-I Capital.
These Perpetual Bonds are hybrid instruments with no maturity, callable at IREDA’s option, offering a stable, long-term capital source.
