The Indian Renewable Energy Development Agency (IREDA) intends to sell bonds with an 11-year maturity to raise Rs 1,500 crore ($172.95 million). According to Reuters, which cited three bankers, it has a greenshoe option of Rs 1,000 crore. The company has asked bankers and investors to submit bids for coupons and promises.
There was no response to the announcement from IREDA’s share price. It increased by up to 3% intraday to a peak of Rs 175.60. The company’s fundraising proposal was announced by Reuters for Rs 172.62, up 1.4%.
In addition, on February 18, the International Financial Services Center Authority authorized the company’s wholly-owned subsidiary to establish a finance business in Gujarat’s GIFT City.
“IREDA Global Green Energy Finance IFSC Limited, a fully owned subsidiary of IREDA Ltd, has been awarded provisional registration as a finance business in Gift City, Gujarat, by the International Financial Services Centre Authority (IFSCA) in a letter dated September 4, 2024. Regarding this, we are happy to notify you that IREDA Global Green Energy Finance IFSC Limited has now obtained the Certificate of Registration dated 18.02.2025 from IFSCA to conduct business as a finance company, according to an exchange filing.
