IREDA raises ₹453 crore via perpetual bonds subscribed 2.69 times

has raised ₹453 crore through its second perpetual bond issue at 7.70% annual coupon, strengthening its Tier-I capital to finance more green energy projects. The issue received strong demand with bids of ₹1,343 crore against the base size of ₹100 crore and green shoe of ₹400 crore, resulting in 2.69x subscription, reflecting investor confidence in IREDA’s role as a key renewable energy financier. These perpetual bonds, which have no maturity and can be called only at the company’s option, carry a step-up of 50 basis points if not called after 10 years, offering equity-like features while ensuring long-term capital stability. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.