IREDA to raise up to Rs 45 billion in equity capital

The Indian Renewable Energy Development Agency Limited (IREDA) has received in-principle approval from its Board of Directors to raise up to Rs 45 billion in equity capital. The funds will be raised in one or more tranches through methods such as Further Public Offer (FPO), Qualified Institutional Placement (QIP), Rights Issue, or Preferential Issue. The exact number of securities to be issued will be determined later, pending approval from the Government of India and other…