Capital for scaling financing activities
Indian Renewable Energy Development Agency Ltd (IREDA) has raised Rs.2,005.90 crore through a Qualified Institutions Placement (QIP), boosting Green Financing for investments in projects.
The capital raised through this successful issue will further strengthen IREDA’s Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing the company’s capacity to support the expanding renewable energy sector in India https://www.commerce.gov.in/.
“This capital infusion will empower us to scale up our financing activities, enabling greater investments in renewable energy projects and accelerating India’s transition towards a greener and sustainable energy future,” IREDA CMD Pradip Kumar Das said on 11 June https://www.bseindia.com/.
“The successful completion of this QIP in a short span after our IPO in November 2023 is a testament to the trust and confidence the investor community and the Ministry of New & Renewable Energy have reposed in IREDA,” he added https://www.nseindia.com/.
The capital was mobilized by issuing 12.15 crore equity shares at a price of Rs.165.14 per share, which includes a premium of Rs.155.14 per share over the face value of Rs.10.
The issue price of Rs.165.14 reflects a discount of 5.00% to the floor price of Rs.173.83 per equity share. Launched on 5 June 2025, the QIP issue closed on 10 June 2025, receiving an encouraging response from a diverse set of both domestic and foreign qualified institutional buyers (QIBs) including insurance companies, scheduled commercial banks and foreign portfolio investors http://mnre.gov.in.
The Board has approved allotment of equity shares to eligible qualified institutional buyers during its meeting held on 11 June 2025.
The QIP was oversubscribed with bids amounting to Rs.2,005.90 crore against the base issue size of Rs.1,500 crore, achieving a subscription of 1.34 times. Fiinews.com
