New Delhi, March 20 -- State-owned renewable energy financier, Indian Renewable Energy Development Agency (IREDA), on Thursday announced that it has launched its first-ever perpetual bond to raise Rs 1,247 crore. In a stock exchange filing, the agency stated that the bonds have been issued at an annual coupon rate of 8.4 per cent.

The company called this a significant step towards optimising its capital structure while taking advantage of favourable market conditions. "This landmark initiative marks a major step in optimizing the company's capital structure while capitalising on the current supportive market conditions," IREDA said.

IREDA Chairman and Managing Director, Pradip Kumar Das, emphasised the importance of this move, saying th...