DIPAM approves IREDA to raise Rs 45 billion through equity issue
Indian Renewable Energy Development Agency Limited (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise approximately Rs 45 billion via a fresh equity issue through qualified institutions placement (QIP). Following the equity raise, the Government of India plans to reduce its shareholding in IREDA by up to 7%, potentially in one or more stages.