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Indian Renewable Energy Development Agency Limited (IREDA) is registered as a systematically important non deposit taking NBFC. It is set up by Govt. of India under the administrative control of MNRE to promote, develop and extend financial assistance for renewable energy and energy efficiency projects.
The Union cabinet, in an ambitions push for solar energy has revised the cumulative target of grid Connected Solar Projects under Jawaharlal Nehru National Solar Mission (JNNSM) from 20,000 MW by 2021- 22 to 100,000 MW solar capacity by 2021-22. JNNSM will create an enabling policy framework to achieve this objective and make India a global leader in solar energy. The target of 100,000 MW will be met through 40,000 MW of rooftop solar projects and 60,000 MW of large and medium-scale grid-connected projects.
| Issue Open | January 8, 2016 - January 22, 2016 |
| Security Name | IREDA Ltd |
| Security Type | |
| Issue Size (Base) | Rs 1,716.00 Crores |
| Issue Size (Shelf) | Rs [.] Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 5 NCD |
| Market Lot | 5 NCD |
| Listing At | BSE |
| Credit Rating | |
| Tenor | |
| Series | |
| Payment Frequency | |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 0% |
| Category 2 | 0% |
| Category 3 | 0% |
| Category 4 | 0% |
The proceeds of Issue may be utilized towards financing renewable energy and energy efficiency projects and augmenting their resource base.
These bonds carries coupon rates of 7.28% (10 yrs), 7.49% (15 yrs) and 7.43% (20 yrs) for category I, II and III (i.e. non-retails) and for retail it offers 7.53% (10 yrs), 7.74% (15 yrs) and 7.68% (20 yrs). Interest payment will be done annually.
IREDA Tax Free Bonds gets overwhelming response on day one of subscription and is now stands closed.
On the base size of Rs. 1000 crore it is oversubscribed 5.09 times with a total subscription of 5092 crore with QIB 10.48 times, Corporates 5.16 times, HNI 3.51 times and Retail 3.13 times.
On the aggregate basis the issue is subscribed 2.97 times with Retail above 1.8 times.
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IREDA Ltd
India Habitat Centre,
Core 4 �A�, 1st Floor,
Lodhi Road, New Delhi - 110003
Phone: +91 (11) 24682206/19
Email: cs@ireda.gov.in
Website: http://www.ireda.gov.in
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: ireda.ncd@linkintime.co.in
Website: https://kosmic.kfintech.com/ipostatus/
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