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IREDA Launches its First-Ever Perpetual Bonds to Raise INR 1,247 Crore

Indian Renewable Energy Development Agency (IREDA) has launched its first-ever Perpetual Bonds to raise INR 1,247 crore at an annual coupon rate of 8.40 percent to strengthen its Tier-I capital and support India’s green energy expansion.

March 20, 2025. By Mrinmoy Dey

Indian Renewable Energy Development Agency (IREDA) has launched its first-ever issue of Perpetual Bonds for an amount of INR 1,247 crore at an annual coupon rate of 8.40 percent. This initiative marks a major step in optimising the company’s capital structure while capitalising on the current supportive market conditions.

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.

Commenting on the successful issuance, Pradip Kumar Das, Chairman and Managing Director, IREDA, said, “This is a historic milestone for IREDA. We extend our gratitude to investors for their enthusiastic response. 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.”

Additionally, IREDA has received a refund of INR 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.

Further, a refund of approximately INR 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.

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Indian Renewable Energy Development Agency

IREDA issues Perpetual Bonds