Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully concluded its Qualified Institutions Placement (QIP), raising ₹2,005.90 crore to strengthen its financial position and expand its lending capacity for India’s growing renewable energy sector.
The capital was mobilized through the issuance of 12.15 crore equity shares at ₹165.14 per share, which includes a premium of ₹155.14 over the face value of ₹10. The issue price represents a 5% discount to the floor price of ₹173.83 per equity share. The QIP was launched on June 5, 2025, and closed on June 10, 2025.
According to the company, the offering attracted robust demand from a wide spectrum of domestic and international qualified institutional buyers (QIBs), including insurance companies, scheduled commercial banks, and foreign portfolio investors. The Board of Directors approved the allotment of equity shares to eligible investors at its meeting held today.
The QIP was oversubscribed, receiving bids worth ₹2,005.90 crore against the base issue size of ₹1,500 crore — achieving a subscription rate of 1.34 times. The fresh capital infusion will bolster IREDA’s Tier-I capital and enhance its Capital Adequacy Ratio (CAR), enabling the agency to scale up financing for renewable energy projects across the country.
Commenting on the successful fundraise, Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, stated:
“The successful completion of this QIP in such a short span after our IPO in November 2023 reflects the continued trust and confidence placed in IREDA by both the investor community and the Ministry of New & Renewable Energy. This capital will empower us to increase our financing activities and facilitate greater investments in renewable energy, accelerating India’s journey toward a greener, more sustainable energy future.”
CMD Das also expressed his gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy; Shri Santosh Kumar Sarangi, Secretary, MNRE; Department of Investment and Public Asset Management (DIPAM); and the Board of Directors for their ongoing support and guidance.
IREDA extended its thanks to all participating institutional investors and stakeholders, reaffirming its commitment to driving India’s clean energy financing efforts.
