The Board of Directors of Indian Renewable Energy Development Agency (IREDA) Ltd has approved raising up to ₹5,000 crore through Qualified Institutions Placement (QIP) of equity shares in one or more tranches. This move aims to bolster IREDA’s financial capacity to meet the rising demand for green energy financing. The fundraising process will commence after securing necessary approvals from shareholders and regulatory authorities.
Pradip Kumar Das, Chairman & Managing Director of IREDA, emphasized that the initiative highlights IREDA’s dedication to strengthening India’s renewable energy sector. “This will enable us to scale up financial support for clean energy projects and reinforce our leadership in the sector,” he said.
The planned issuance is designed to maintain the Government of India’s robust shareholding, with a dilution of up to 7% in post-issue equity, ensuring continued government support while expanding resources for renewable energy development.
