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IREDA plans to borrow INR 4,000 crore by next fiscal year

Power News - Published on Mon, 11 Feb 2019

Image Source: INCORE
Economic Times reported that state run Indian Renewable Energy Development Agency plans to borrow up to INR 4,000 crore by the next fiscal year. Mr KS Popli chairman of IREDA said that they generally have existing lines of credit. He added that “We have plans to borrow around INR 3,000 crore to INR 4,000 crore up to next year depending on how much is the offtake.”

Loan disbursement this year would be INR 9,500 crore and will be about 30 per cent more next year.

The renewable energy agency announced to sanction around INR 13,000-crore credit to country’s clean energy project developers this fiscal year. With plans to release about INR 8,000 crore for clean energy projects.

Mr Popli said that the decision with respect to initial public offerings (IPO) would come before September 2019. He said that “We can go up to 15 per cent of our total equity... the approval was for 13.90 crore shares, whatever rate comes. It will be around INR 700 to 750 crore.”

In February last year, IREDA along with Bharat Dynamics had received SEBI’s go ahead to float the IPO.

Source :

Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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