IREDA Secures ₹2,005.90 Crore to Power India’s Green Future

The Indian Renewable Energy Development Agency (IREDA) has successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP), reinforcing its commitment to financing India’s clean energy transition.

 

The QIP, launched on June 5, 2025, and closed on June 10, 2025, saw 12.15 crore equity shares issued at ₹165.14 per share, reflecting a 5% discount to the floor price of ₹173.83. The offering was oversubscribed 1.34 times, surpassing the base issue size of ₹1,500 crore, with strong participation from foreign portfolio investors, insurance companies, and scheduled commercial banks.

 

IREDA’s Chairman & Managing Director, Pradip Kumar Das, emphasized that this capital infusion will strengthen Tier-I capital and improve the Capital Adequacy Ratio, enabling the agency to expand its green financing portfolio. He credited the Ministry of New & Renewable Energy (MNRE), DIPAM, and IREDA’s Board for their support and expressed gratitude to Union Minister Pralhad Joshi and MoS Shripad Naik for their guidance.

 

Following its successful IPO in November 2023, IREDA continues to attract investor confidence, reaffirming its role as a key financier of India’s renewable energy projects. The funds raised will accelerate investments in solar, wind, and other sustainable energy initiatives, driving India closer to its net-zero goals.

 

Sources: Business World, Times of India, Economic Times