Indian Renewable Energy Development Agency (IREDA) has raised Rs 910.37 crore through the issuance of Privately Placed Subordinated Tier-II Bonds for a 10-year tenor at an annual coupon rate of 7.74%.
The raising of Tier-II Bonds aims to tap liquidity in the current financial market and support the borrowing plan of the company. The funds raised will enhance IREDA's Tier-II capital, increasing its Net-worth and Capital to Risk-Weighted Assets Ratio (CRAR), thereby strengthening the company's ability to support country's clean energy transition through financing.
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