IREDA Raises Rs 20 Billion via QIP to Boost Clean Energy

12 Jun 2025 CW Team

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.

Infrastructure Urban

09 Jan 2026

Mount Expands Tumkur Facility with New Automated Panel, PEB Lines

Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across pre-engineered building (PEB) and polycarbonate sheets, simultaneously inaugurated its second fully automated continuous sandwich panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur.The milestone expansion, part of a total investment of Rs 250 crore, marks a significant advancement in the company's commitment to engineered performance, manufacturing scale, and industrial growth. The integrated facility spans approx..

India Becomes First to Produce Bio-Bitumen for Roads

India has become the first country in the world to commercially produce bio-bitumen for use in road construction, according to Road, Transport and Highways Minister Nitin Gadkari. Bitumen, a black and viscous hydrocarbon derived from crude oil, is a key binding material in road building, and the bio-based alternative is expected to significantly improve the sector’s environmental footprint.Addressing the CSIR Technology Transfer Ceremony in New Delhi, Mr Gadkari congratulated Council of Scientific and Industrial Research on achieving the milestone, noting that the initiative would help curb ..

HILT Policy Seen Boosting Telangana Revenue Sharply

The Hyderabad Industrial Land Transformation (HILT) Policy is expected to generate around Rs 1.08 billion in revenue for the Telangana state exchequer, according to Deputy Chief Minister Bhatti Vikramarka Mallu. Speaking in the Telangana Legislative Assembly, he said the policy would be implemented within a six-month timeframe in a transparent manner, with uniform rules applicable to all stakeholders. Mr Vikramarka noted that without the HILT Policy, the state would have earned only about Rs 1.2 million per acre. Under the new framework, however, revenue is projected to rise sharply to Rs 70 ..