IREDA raises Rs 910.37 cr via Privately Placed Subordinated Tier II Bond issuance

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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