IREDA Successfully Raises 2,005.90 Crore via QIP to Boost Green
Financing
Chennai, June 11, 2025 Indian Renewable Energy Development Agency Ltd.
(IREDA) has successfully raised 2,005.90 crore through a Qualified Institutions
Placement (QIP). The capital was mobilized by issuing 12.15 crore equity shares
at a price of 165.14 per share, which includes a premium of 155.14 per share
over the face value of 10.
The issue price of 165.14 reflects a discount of 5.00% to the floor
price of 173.83 per equity share. Launched on June 5, 2025, the QIP issue
closed on June 10, 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. The Board has approved allotment of equity shares to eligible
qualified institutional buyers in its meeting held today i.e. June 11, 2025.
The QIP was oversubscribed with bids amounting to 2,005.90 crore against
the base issue size of 1,500 crore, achieving a subscription of 1.34 times. 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.
Reflecting on this achievement, Shri Pradip Kumar Das, Chairman &
Managing Director, IREDA, said: “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. 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.”
CMD, IREDA expressed his gratitude to Shri Pralhad Joshi, Hon’ble Union
Minister of New & Renewable Energy, Consumer Affairs and Food & Public
Distribution; Shri Shripad Naik, Hon’ble Minister of State for Power and New
& Renewable Energy; Shri Santosh Kumar Sarangi, Secretary, MNRE; Department
of Investment and Public Asset Management (DIPAM); and the Board of Directors
for their support and invaluable guidance.
IREDA extended its gratitude to all institutional investors and
stakeholders for their continued support, reaffirming its commitment to leading
the country’s clean energy financing initiatives
