IREDA seeks Sebi's nod to raise up to Rs 1,000 cr

State-owned Indian Renewable Energy Development Agency (IREDA) has sought approval from the Securities and Exchange Board of India (Sebi) to raise up to Rs 1,000 crore through tax-free bonds.

IREDA said the proposed bonds would be issued in one or more tranches. Proceeds of the issue would be utilised towards financing renewable energy and energy efficiency projects and augmenting resources.