IREDA's Rs 1,500 crore bond issue oversubscribed by 2.65 times
Mumbai: Indian Renewable Energy Development Agency (IREDA) successfully raised Rs. 1500 crore today through issuance of bonds.
The bond issuance, which consisted of base issue of Rs. 500 crore and Green shoe option of Rs. 1,000 crore, received an overwhelming response from investors and was oversubscribed 2.65 times. The funds have been raised at an annual interest rate of 7.44% for a tenure of 10 years and 2 months.
Read Also : Minister Pralhad Joshi Flags Off 10 Battery-Operated Vehicles at Jagannath TempleCommenting on the successful bond issuance, Shri Pradip Kumar Das, Chairman & Managing Director, said: “We are happy with the overwhelming response to our bond issuance.
Read Also : THDC Director (Finance) conferred with Visionary CFO of India AwardThe oversubscription by 2.65 times underscores the trust and confidence that investors have in IREDA’s vision and its crucial role in driving the renewable energy growth in the country. This successful capital raising will enable us to 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.”
Read Also : THDC India Limited Organizes Awareness Campaign as Part of Vigilance Awareness WeekNews Must Read
- GAIL signs 10 year agreement with ADNOC Gas
- Hindustan Aeronautics Q2 Results: Net profit increases by 22%, revenue jumps 6%
- NBCC Q2 results, Net Profit rises 53% to Rs 122 Crore
- NBCC Appoints Anjeev Kumar Jain as New CFO
- NALCO shares gains over 4% with strong Q2 results, PSU stock declares dividend
- NALCO Q2 FY25 results: Net Profit zooms, announced dividend
- MRPL Receives Special Award at Energy Technology Meet
- GRSE announced Q2 & H1 FY25 Results
- DBS Bank India CEO To Retire
- SBI, HDFC Bank and ICICI continue as RBI's Systemically Important Banks