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Ireda's green masala bond raises Rs 1,950 cr by listing on SGX

We are pleased to welcome IREDA's debut Green Masala bond: Head of Debt Capital Markets at Singapore Exchange

Press Trust of India  |  Singapore 

A Singapore Exchange (SGX) sign sits outside its premises at the central business district in Singapore
A Singapore Exchange (SGX) sign sits outside its premises at the central business district in Singapore

The IREDA, India's government- owned renewable energy entity has raised Rs 19.5 billion through a five-year Green rupee-denominated bond by listing on the Exchange.

"We look forward to continue supporting IREDA's capital raising initiatives in the bond market, which has offered investors an opportunity to participate in the fast growing Indian renewable energy market," Tng Kwee Lian, Head of Debt Capital at Exchange (SGX), said, welcoming the inaugural Green rupee-denominated or Masala bond listing of the

"We are pleased to welcome IREDA's debut Green Masala bond, and are encouraged by the strong investor interest it received particularly within Asia," said Tng.

Indian Renewable Agency Limited (IREDA), a company, raised Rs 19.5 billion ($300 million) through a five-year Green rupee-denominated bond, offering an annualised coupon of 7.125 per cent, said in a press release.

was established in 1987 as a Non-Banking Financial Institution and is a Mini Ratna (Category I) of Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE).

To date, it has financed more than 2,380 renewable energy projects in

"is fully committed to helping achieve Indian Government's vision of 175 GW renewable energy capacity by 2022," said Kuljit Singh Popli, Chairman and Managing Director at IREDA.

The is a significant milestone for IREDA in this regard, as we embark on the next phase of renewable and sustainable energy led expansion, said Singh.

"This is another step towards our Honourable Prime Minister's (Modi) commitment to the Paris agreement on Climate Change. The overwhelming response to the issue is a testament to the confidence of global investors in IREDA and the Indian renewable sector in general."

With this new listing, 75 per cent of listed Masala bonds by Indian issuers are now listed on

Today, more than 80 per cent of listed offshore bonds by Indian issuers are listed on SGX, raising about $66 billion.

First Published: Wed, October 11 2017. 17:33 IST
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