Investors Show Strong Faith in IREDA's Renewable Energy Ventures
IREDA successfully executed a qualified institutional placement (QIP) and its IPO, indicating high investor confidence in India's renewable energy sector. The QIP, raising Rs 2,005.9 crore, attracted interest from major domestic and international investors, demonstrating a strong belief in IREDA's growth potential and robust market performance.
- Country:
- India
Union Minister Shripad Yesso Naik announced that the successful execution of IREDA's recent Qualified Institutional Placement (QIP) and IPO highlights significant investor confidence in India's renewable energy sector. IREDA raised approximately Rs 2,005.9 crore by issuing fresh equity shares through QIP in June.
Investors, including prominent institutions such as Life Insurance Corporation, Morgan Stanley, and Societe Generale, have shown substantial interest in IREDA. This underscores the trust in the company's business model and the growth potential of the renewable energy market in India.
IREDA's stock has performed exceptionally well in the secondary market, reflecting ongoing investor optimism. The IPO shares debuted with a remarkable 87.5% premium, further emphasizing strong confidence in the company's future trajectory and effective corporate governance.
(With inputs from agencies.)
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