The offering has a base size of ₹1,500 crore, with an optional upsize of ₹3,000 crore, bringing the total possible issue size to ₹4,500 crore. The indicative price for the QIP stands at ₹165.14 per share, which reflects a 6.4% discount from IREDA’s most recent closing price.
This announcement follows the approval of a QIP by the IREDA board in January this year, aiming to raise up to ₹
5,000 crore. This proposal was later approved by the company’s shareholders in February.
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“In line with the decision made by the Board of Directors during their meeting on January 23, and the special resolution passed by the shareholders on February 24, the Board has now authorized the opening of the proposed issue on June 5, 2025, for eligible qualified institutional buyers,” the company stated in a regulatory filing.
The board has also given the green light for the preliminary placement document and the draft application form related to the QIP. Moreover, the company noted it might offer a discount of up to 5% on the floor price based on shareholder approval.
IREDA mentioned that the issue price will be finalized in collaboration with the book running lead managers appointed for the offering. The trading window will be closed for the QIP issue until further notice.
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The share issuance to institutional investors will not exceed a 7% dilution of the post-issue paid-up equity share capital of the company. IREDA indicated that the funds will be utilized to meet the increasing demand for green energy financing.
IREDA operates as a non-banking financial institution under the Ministry of New and Renewable Energy. Shares of Indian Renewable Energy Development Agency Ltd closed at ₹176.50, rising by ₹2.55, or 1.47%, on the BSE.
First Published: Jun 5, 2025 11:15 PM IST
