IREDA Sets Stage for Major Fundraising with Rs 5,000 Crore QIP
IREDA plans to raise Rs 5,000 crore through a QIP, setting the floor price at Rs 173.83 per share. The initiative supports growing green energy financing demands. The board and shareholders had earlier approved the move, with possible discounts and non-dilution commitments outlined.
- Country:
- India
State-run Indian Renewable Energy Development Agency Ltd (IREDA) has established the floor price for its qualified institutional placement (QIP) at Rs 173.83 per equity share, aiming to raise approximately Rs 5,000 crore. This follows a January board decision and subsequent shareholder approval in February.
The board clarified the regulatory process, authorizing the issue to eligible institutional buyers, planned for June 2025. According to Sebi's Issue of Capital and Disclosure Requirements, the board has approved all necessary preliminary documents.
While a discount of up to 5% may be offered on the floor price, the company maintains that no more than 7% of the equity share capital will be diluted post-issue. The capital raised will bolster efforts in green energy financing, reflecting IREDA's role as a key player in renewable energy under India's Ministry of New and Renewable Energy.
(With inputs from agencies.)
- READ MORE ON:
- IREDA
- QIP
- floor price
- Rs 173.83
- green energy
- financing
- Sebi
- ICDR
- share capital
- renewable energy
ALSO READ
Latin America Embraces Nuclear Energy: IAEA Leads Dialogue on SMRs and Financing
Adani Boosts Northeast Growth with Rs 50,000 Cr Green Energy Investment
India Pressures FATF to Re-Greylist Pakistan Over Terror Financing
Green Energy Revolution: Northeast India Positioned as Clean Power Beacon
SEBI Champions Digital Inclusion for Persons with Disabilities
Google News