IREDA launches First-Ever Perpetual Bonds to raise ₹1,247 Crore, receives ₹24.48 Crore Tax Refund

Indian Renewable Energy Development Agency Limited (IREDA) has launched its first-ever issue of Perpetual Bonds for an amount of ₹1,247 crores at an annual coupon rate of 8.40%. This landmark initiative marks a major step in optimizing the company's capital structure while capitalizing 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.

In addition to this achievement, IREDA has received a refund of ₹24.48 crores 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 ₹195 crores 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.

Commenting on the successful issuance, Shri 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."

Shares of Indian Renewable Energy Development Agency Limited was last trading in BSE at Rs. 151.90 as compared to the previous close of Rs. 146.00. The total number of shares traded during the day was 2973792 in over 19332 trades.

The stock hit an intraday high of Rs. 152.50 and intraday low of 147.00. The net turnover during the day was Rs. 446477185.00.

Source : Equity Bulls

Keywords

IndianRenewableEnergyDevelopmentAgency IREDA INE202E01016 FinancialInstitution PerpetualBonds FirstEverIssue TaxRefund