IREDA plans to raise Rs 50 billion through QIP

The Indian Renewable Energy Development Agency Limited (IREDA) has approved a plan to raise up to Rs 50 billion through a Qualified Institutions Placement (QIP) of equity shares in one or more tranches.

This decision aims to strengthen IREDA’s financial resources to meet the growing demand for green energy financing. The issuance will proceed following necessary approvals from shareholders and regulatory authorities.

The initiative will allow IREDA to expand its financial support for renewable energy projects. The Government of India’s shareholding in IREDA will remain unchanged, with up to a 7 per cent dilution in post-issue equity.