IREDA, the Indian Renewable Energy Development Agency, is set to raise Rs. 1,000 crore through 10-year bonds – EQ
0
0
In Short : IREDA, the Indian Renewable Energy Development Agency, is set to raise Rs. 1,000 crore through 10-year bonds. This fundraising initiative will provide essential financial support for renewable energy projects in India. By issuing bonds, IREDA can secure long-term funding, further accelerating the country’s transition to clean and sustainable energy sources. This move signifies a vital step in promoting green initiatives and ensuring a more sustainable energy future for India.
In Detail : The bonds have been rated ‘AAA’ with ‘Stable’ outlook by ICRA and India Ratings.
The Indian Renewable Energy Development Agency plans to raise up to Rs 1000 crore from floating bonds maturing in 120 months, market sources said.
Bidding for these bonds will took place between 11am and 12 noon on October 10 on the electronic bidding platform of the BSE. The bonds have been rated ‘AAA’ with a ‘stable’ outlook by ICRA and India Ratings.
The pay-in date for the bonds is October 12. Pay-in date is when exchange of bonds and money takes places between the issuer and the investors.
On October 9, two companies, Chaitanya India Fin Credit Pvt Ltd and Manba Finance, raised funds through bonds. The companies together raised Rs 75 crore.
