IREDA Raises INR 453 Crore Via Perpetual Bonds
Indian Renewable Energy Development Agency has raised INR 453 crore at 7.70 percent through its second issue of Perpetual Bonds, oversubscribed 2.69 times, to strengthen Tier-I capital and boost renewable energy financing.
September 12, 2025. By Mrinmoy Dey
The issue drew strong investor interest, with total bids worth INR 1,343 crore against the base size of INR 100 crore and a Green Shoe option of INR 400 crore. This resulted in oversubscription by 2.69 times, reflecting growing confidence in IREDA’s role as a leading financier of India’s renewable energy sector, the NBFC said in a statement.
Commenting on the fund raising, 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 percent annual coupon with a step-up of 50 basis points once in the lifetime of the bond, if not called after 10 years. These hybrid instruments provide equity-like characteristics while offering IREDA a stable, long-term source of capital.
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