IREDA raises Rs 2,005 crore via QIP
Author: PPD Team Date: June 12, 2025
Indian Renewable Energy Development Agency Ltd. (IREDA) has raised Rs 2,005.90 crore through a Qualified Institutions Placement (QIP). The capital was mobilised by issuing 12.15 crore equity shares at Rs 165.14 per share. This price includes a premium of Rs 155.14 over the face value of Rs 10.
The issue price reflects a 5.00% discount on the floor price of Rs 173.83 per share. The QIP opened on June 5, 2025, and closed on June 10, 2025. It saw strong interest from a range of domestic and foreign institutional investors. These included insurance firms, scheduled commercial banks, and foreign portfolio investors.
IREDA’s Board approved the allotment of equity shares to eligible qualified institutional buyers in its meeting held on June 11, 2025.
The QIP was oversubscribed. Bids totalled Rs 2,005.90 crore against a base size of Rs 1,500 crore, resulting in a subscription rate of 1.34 times.
IREDA plans to use the funds to improve its Tier-I capital and overall Capital Adequacy Ratio (CAR). This will help the company provide more financial support to India’s growing renewable energy sector.
