Hogan Lovells Advised On US$235 Million Qualified Institutions Placement By Indian Renewable Energy Development Agency Limited

Hogan Lovells Advised on US$235 Million Qualified Institutions Placement by Indian Renewable Energy Development Agency Limited

The leading global law firm Hogan Lovells advised on the US$235 million qualified institutions placement (QIP) by Indian Renewable Energy Development Agency Limited (IREDA), an Indian government-owned Navratna company under the Ministry of New and Renewable Energy (MNRE).

The QIP achieved an oversubscription of approximately 1.5 times the issue size and received an overwhelming response from both domestic and foreign qualified institutional buyers, including insurance companies, scheduled commercial banks, and foreign portfolio investors.

IREDA is India’s largest pure-play green financing non-banking financial company (NBFC) providing financing and promoting renewable energy and energy efficiency projects. IREDA is one of the fastest-growing PSU companies in India’s renewable energy sector. Hogan Lovells continues its association with IREDA, having advised on its US$265 million initial public offering in 2023.

The Hogan Lovells Capital Markets team was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner), with support from Kaustubh George, Varun Jetly, Aditya Rajput, Sanjana Ravjiani, and Aditya Dsouza.

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