IREDA launches perpetual bonds, receives tax refund

Indian Renewable Energy Development Agency (IREDA) has launched its inaugural issue of Perpetual Bonds, targeting ₹1,247 crore, with a coupon rate of 8.40%. The company received a tax refund of ₹24.48 crore on March 19, 2025, from the Income Tax Department. The refund pertains to partial relief granted by the Commissioner of Income Tax (Appeals) for Assessment Year 2011-12, related to specific disallowances. An additional refund of approximately ₹195 crore is under processing for similar relief applicable to Assessment Years 2010-11, 2012-13, 2013-14, and 2015-16 to 2018-19. IREDA's Chairman, Pradip Kumar Das, highlighted the bonds as a historic milestone that will strengthen IREDA's capital base for renewable energy project financing. IREDA's stock code is BSE:544026.