India New Issue-IREDA mulls raising 10 bln rupees via bonds in June: bankers, ET EnergyWorld

MUMBAI: Indian Renewable Energy Development Agency (IREDA) plans to raise up to 10 billion rupees ($122.13 million) through the sale of bonds maturing in 10 years and is likely to invite bids later this month, three bankers said on Friday.

“IREDA was planning to invite bids this week but a heavy supply of bonds from big-ticket companies led the company to defer its plan to the last week of June,” one of the bankers said.

The company did not immediately respond to Reuters’ email seeking details and is yet to announce the bond sale.

The bonds are rated AAA by ICRA.

IREDA is a fully owned government nodal agency that works for the promotion and development of the renewable energy sector in India.

The company last tapped the bond market in January when it raised 15 billion rupees via 10-year bonds at a coupon of 7.94%.

  • Published On Jun 16, 2023 at 01:21 PM IST

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