The Indian Renewable Energy Development Agency (IREDA) has raised Rs 4.53 billion through its second issue of perpetual bonds at a coupon rate of 7.70 per cent per annum.
The offering received bids worth Rs 13.43 billion against the base size of Rs 1 billion and a green shoe option of Rs 4 billion resulting in an oversubscription of 2.69 times. The funds will be used to bolster IREDA’s capital base and support financing for renewable energy projects across India.