IREDA launches perpetual bonds worth over Rs 1,200 cr; receives Rs 24-cr tax refund

The issuance of perpetual bonds is a strategic move aimed at enhancing IREDA's Tier-I capital, ensuring a stronger financial foundation to support the rapid expansion of India's green energy infrastructure, the company stated in exchange filing.

Meanwhile, the company received a refund of Rs 24.48 crore on March 19, 2025, from the Income Tax Department towards partial relief granted by the Commissioner of Income Tax (Appeals) for Assessment Year (AY) 2011-12, related to certain disallowances.

Further, the company said that refund of approximately Rs 195 crore is under process for similar relief provided by CIT (Appeals) for AYs 2010-11, 2012-13, 2013-14, and 2015-16 to 2018-19, which is yet to received.

IREDA is a 'Navratna' Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation. As on December 2024, GoI held 75% stake in IREDA.

IREDA's standalone net profit jumped 27% to Rs 425 crore on 36% increase in revenue from operations to Rs 1,698 crore in Q3 FY25 over Q3 FY24.

The scrip declined 1.18% to Rs 150.10 on the BSE.