IREDA Raises Rs. 1247 Crore via Perpetual Bonds, Receives Rs. 24.48 Crore Tax Refund

Indian Renewable Energy Development Agency Limited (IREDA) has launched its first-ever issue of Perpetual Bonds for an amount of Rs. 1247 crores at an annual coupon rate of 8.40%. This initiative aims to optimize the company’s capital structure and enhance its Tier-1 capital. IREDA has also received a refund of Rs. 24.48 crores from the Income Tax Department towards partial relief granted by the Commissioner of Income Tax (Appeals) for Assessment Year 2011-12. Approximately Rs. 195 crores is under process for similar relief provided by CIT (Appeals) for AYs 2010-11, 2012-13, 2013-14, and 2015-16 to 2018-19.