+
IREDA Raises Rs 20 Billion via QIP to Boost Clean Energy
POWER & RENEWABLE ENERGY

IREDA Raises Rs 20 Billion via QIP to Boost Clean Energy

Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised Rs 20.06 billion through a Qualified Institutions Placement (QIP), issuing 121.5 million equity shares at Rs 165.14 each, inclusive of a Rs 155.14 premium over the Rs 10 face value.

The issue price reflected a 5 per cent discount to the floor price of Rs 173.83 per share. Launched on 5 June 2025 and closed on 10 June, the QIP drew strong interest from a wide range of qualified institutional buyers (QIBs), both domestic and international, including insurance firms, scheduled banks, and foreign portfolio investors. The IREDA Board approved the share allotment to eligible QIBs on 11 June.

The QIP was oversubscribed with bids worth Rs 20.06 billion against a base issue size of Rs 15 billion, achieving a subscription ratio of 1.34 times. This capital infusion is expected to reinforce IREDA's Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing its capacity to support India’s rapidly growing renewable energy sector.

IREDA’s Chairman and Managing Director, Shri Pradip Kumar Das, stated that the QIP's success shortly after the agency’s IPO in November 2023 reflected investor confidence and support from the Ministry of New & Renewable Energy. He emphasised that the funds will enable IREDA to scale its financing capabilities and accelerate India’s shift to sustainable energy.

He also thanked Union Minister Shri Pralhad Joshi, Minister of State Shri Shripad Naik, MNRE Secretary Shri Santosh Kumar Sarangi, DIPAM, and IREDA’s Board for their support and guidance. IREDA extended gratitude to all institutional investors, reaffirming its commitment to leading India’s clean energy financing initiatives.

Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised Rs 20.06 billion through a Qualified Institutions Placement (QIP), issuing 121.5 million equity shares at Rs 165.14 each, inclusive of a Rs 155.14 premium over the Rs 10 face value.The issue price reflected a 5 per cent discount to the floor price of Rs 173.83 per share. Launched on 5 June 2025 and closed on 10 June, the QIP drew strong interest from a wide range of qualified institutional buyers (QIBs), both domestic and international, including insurance firms, scheduled banks, and foreign portfolio investors. The IREDA Board approved the share allotment to eligible QIBs on 11 June.The QIP was oversubscribed with bids worth Rs 20.06 billion against a base issue size of Rs 15 billion, achieving a subscription ratio of 1.34 times. This capital infusion is expected to reinforce IREDA's Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing its capacity to support India’s rapidly growing renewable energy sector.IREDA’s Chairman and Managing Director, Shri Pradip Kumar Das, stated that the QIP's success shortly after the agency’s IPO in November 2023 reflected investor confidence and support from the Ministry of New & Renewable Energy. He emphasised that the funds will enable IREDA to scale its financing capabilities and accelerate India’s shift to sustainable energy.He also thanked Union Minister Shri Pralhad Joshi, Minister of State Shri Shripad Naik, MNRE Secretary Shri Santosh Kumar Sarangi, DIPAM, and IREDA’s Board for their support and guidance. IREDA extended gratitude to all institutional investors, reaffirming its commitment to leading India’s clean energy financing initiatives.

Next Story
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?