₹8,600 crore and its loan book stands at around ₹59,698 crore. In FY24, the company disbursed around ₹25,089 crore, higher from ₹21,639 crore in FY23. The CMD said that in FY25, the loan disbursement would be over ₹30,000 crore.
For this loan disbursement plan for the current fiscal, more resources would be required, he said. IREDA launched its initial public offering (IPO) in December last year, after two failed attempts in 2017 and 2019. In April, its board of directors had approved a borrowing plan of ₹24,200 crore during FY25 through bonds, perpetual debt instruments, term loans, commercial papers and external commercial borrowings.
Das also said that IREDA has requested the Centre to include it in the list for the capital gains exemption bond under Section 54EC of the Income Tax Act, 1961 as in the case of other power sector focused state-run companies -- PFC and REC. The Union ministry of new and renewable energy would also recommend its inclusion in the list, he added. The move would provide capital gains tax exemption under Section 54EC of the Income Tax Act to investors.
REC, National Highway Authority of India, Power Finance Corporation, and Indian Railway Finance Corporation can issue bonds under this mechanism. Recently, the company set up a wholly-owned subsidiary IREDA Global Green Energy Finance IFSC Ltd, at the International Financial Services Centre (IFSC), GIFT City, Gujarat. Last month it also got the Navratna status.
Read more on livemint.com