IREDA to raise Rs 1 247 cr via perpetual bonds

New Delhi, Mar 20 (PTI) State-owned Indian Renewable Energy Development Agency Ltd (IREDA) has said that it has launched its first-ever issue of perpetual bonds to raise Rs 1,247 crore.
     The issuance of perpetual bonds is a strategic move aimed at enhancing IREDA's Tier-I capital, ensuring a stronger financial foundation to support the rapid expansion of India's green energy infrastructure, said a company statement issued late evening on Wednesday.
     The perpetual bonds were issued at an annual coupon rate of 8.40 per cent.
     This landmark initiative marks a major step in optimizing the company's capital structure, while capitalizing on the current supportive market conditions.
     "Strengthening our capital base through perpetual bonds will enable us to scale up financing for renewable energy projects, accelerating India's transition to a cleaner and more sustainable future," Pradip Kumar Das, Chairman and Managing Director, IREDA, said.
     Meanwhile, IREDA has received a refund of Rs 24.48 crore on March 19, 2025, from the Income Tax Department towards partial relief granted by the Commissioner of Income Tax (Appeals) for Assessment Year (AY) 2011-12, related to certain disallowances.
     Refund of approximately Rs 195 crore is under process for similar relief provided by CIT (Appeals) for AYs 2010-11, 2012-13, 2013-14, and 2015-16 to 2018-19, which is yet to be received, the company said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)