Sandeep Kumar | – Indian Renewable Energy Development Agency Limited (IREDA) has successfully raised ₹453 crore at a 7.70% annual coupon through its second issue of perpetual bonds, underscoring investor confidence in the country’s clean energy transition.
The issue, launched with a base size of ₹100 crore and a green shoe option of ₹400 crore, attracted total bids of ₹1,343 crore—an oversubscription of 2.69 times. The strong demand reflects the growing trust in IREDA’s role as a leading financier of renewable energy projects across India.
According to IREDA, the funds will strengthen its Tier-I capital and support the scaling up of renewable energy financing to accelerate India’s journey toward a greener, more sustainable future.
Perpetual bonds, which have no maturity or redemption date and can be called only at the issuer’s discretion, carry a 7.70% annual coupon with a one-time 50-basis-point step-up if not called after 10 years. Ranking senior to share capital, these hybrid instruments combine equity-like stability with long-term funding benefits.
The successful issuance reinforces IREDA’s commitment to mobilising capital for clean energy projects, aligning with India’s national climate goals and the vision of a low-carbon economy.
