Indian Renewable Energy Development Agency Limited (IREDA) has successfully raised Rs 20.06 billion through a qualified institutions placement (QIP) by issuing 121.5 million equity shares. Each share was priced at Rs 165.14, inclusive of a Rs 155.14 premium over the face value of Rs 10. The issue price represented a five per cent discount to the floor price of Rs 173.83 per share.
The QIP, received an oversubscription with total bids amounting to Rs 20.06 billion against a base issue size of Rs 15 billion, achieving a subscription of 1.34 times. The issue particularly attracted participation from a diverse mix of domestic and foreign qualified institutional buyers, including insurance firms, scheduled commercial banks, and foreign portfolio investors. The capital raised is expected to bolster IREDA’s tier-I capital and improve its capital adequacy ratio, thereby strengthening its financial capacity to support the expanding renewable energy sector in India.
In March 2025, Indian Renewable Energy Development Agency Limited (IREDA) secured a five-year, $172 million unsecured loan facility from SBI Tokyo, including a $66.2 million greenshoe option via external commercial borrowings, with a bullet repayment and a hedged landed cost reportedly under 7 per cent.
