New Delhi: State-owned Indian Renewable Energy Development Agency (IREDA) on Friday said it has raised Rs 1,500 crore by issuing bonds, which was oversubscribed 2.65 times.
The bond issue, which comprised a base issue of Rs 500 crore and a green shoe option of Rs 1,000 crore, received an overwhelming response from investors and was oversubscribed 2.65 times, a company statement said.
According to the statement, IREDA successfully raised Rs 1,500 crore by issuing bonds on Friday.
The funds have been raised at an annual interest rate of 7.44 percent for a tenure of 10 years and 2 months.
Pradeep Kumar Das, Chairman and Managing Director, IREDA, said, "...the oversubscription of 2.65 times underlines the confidence and trust investors have in IREDA's vision and its vital role in driving renewable energy development in the country."
“This successful capital raise will help us further strengthen our efforts in financing green energy projects, contributing to India’s goal of achieving 500 GW non-fossil fuel installed capacity target by 2030.”
The bond issue, which comprised a base issue of Rs 500 crore and a green shoe option of Rs 1,000 crore, received an overwhelming response from investors and was oversubscribed 2.65 times, a company statement said.
According to the statement, IREDA successfully raised Rs 1,500 crore by issuing bonds on Friday.
The funds have been raised at an annual interest rate of 7.44 percent for a tenure of 10 years and 2 months.
Pradeep Kumar Das, Chairman and Managing Director, IREDA, said, "...the oversubscription of 2.65 times underlines the confidence and trust investors have in IREDA's vision and its vital role in driving renewable energy development in the country."
“This successful capital raise will help us further strengthen our efforts in financing green energy projects, contributing to India’s goal of achieving 500 GW non-fossil fuel installed capacity target by 2030.”
