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IREDA launched its first perpetual bonds worth Rs 1247 crores at an 8.40% coupon rate to enhance Tier-I capital. IREDA also received a Rs 24.48 crore tax refund.
IREDA launches Perpetual Bond of Rs 1247 Cr.
IREDA Share Price: Indian Renewable Energy Development Agency Limited’s (IREDA’s) shares are in focus following the launch of its first-ever issue of perpetual bonds for an amount of Rs 1247 crores at an annual coupon rate of 8.40 per cent. In the filing, IREDA said it is a major step in optimising the company’s capital structure while capitalising on the current supportive market conditions.
“The issuance of Perpetual Bonds is a strategic move aimed at enhancing IREDA’s Tier-I capital, ensuring a stronger financial foundation to support the rapid expansion of India’s green energy infrastructure,” the company said in the filing.
A perpetual bond also known as ‘perp’ doesn’t have a maturity date and pays a continuous interest rate. The insurer, however, won’t return the principal amount to the lender.
Commenting on the successful issuance, Shri Pradip Kumar Das, Chairman and Managing Director, IREDA, said, “This is a historic milestone for IREDA. We extend our gratitude to investors for their enthusiastic response. Strengthening our capital base through Perpetual Bonds will enable us to scale up financing for renewable energy projects, accelerating India’s transition to a cleaner and more sustainable future.”
Tax Refund From IT Dept
In addition to this achievement, IREDA has received a refund of Rs 24.48 crores on March 19, 2025, from the Income Tax Department towards partial relief granted by the Commissioner of Income Tax (Appeals) for Assessment Year (AY) 2011-12, related to certain disallowances.
IREDA Share Price
IREDA’s shares ended higher of 4.04 per cent on Wednesday to settle at Rs 151.90 apiece. The 52-week’s high and low remained at Rs 310 and Rs 124, respectively.
The stocks are down 51 per cent from its record peak of Rs 310 apiece.
IREDA’s share price has shown significant fluctuation over various timeframes. While the past month and year-to-date periods have seen declines of 10.75% and 31.51% respectively, longer durations paint a more positive picture.
Notably, IREDA’s share price has surged by 17.43%, 30.11%, 30.39%, 166.72%, and 165.02% over the past 1 year, 2 years, 3 years, 5 years, and 10 years respectively. These figures highlight the company’s strong long-term growth potential.
