Ireda plans to raise around Rs 29,500 crore in debt, equity in FY25
Notable because
This comes within a year of IREDA’s successful initial public offering (IPO), as a result of which it raised INR 1,290 crore of new capital. The proposed new capital raise underscores the scale of finance needed to fund India’s proposed 50 GW annual RE bidding trajectory. On the debt side, IREDA appears to be considering both domestic markets as well as international bond issuances, with the latter anticipated to be routed through GIFT City.
What to look out for in the months ahead
On the debt side, how will IREDA’s bond issuances be split between domestic and international markets? Will its issuances in domestic markets help spur the development of India’s corporate green bond market, serving as a means to recycle project loans extended by banks and non-bank financial companies (NBFCs)?