The Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP), aimed at strengthening its green financing initiatives. The funds were raised by issuing 12.15 crore equity shares at ₹165.14 per share, which includes a premium of ₹155.14 over the ₹10 face value.
The issue price represents a 5% discount to the floor price of ₹173.83 per share. Launched on June 5, 2025, the QIP closed on June 10, 2025, receiving strong interest from a diverse pool of domestic and international qualified institutional buyers (QIBs), including insurance companies, scheduled commercial banks, and foreign portfolio investors. The board approved the allotment of shares to eligible QIBs in its meeting held on June 11, 2025.
The offering was oversubscribed, with total bids of ₹2,005.90 crore against the base issue size of ₹1,500 crore, resulting in a 1.34 times subscription. The proceeds will enhance IREDA’s Tier-1 capital and capital adequacy ratio (CAR), helping the agency support the growth of India’s renewable energy sector.
Commenting on the milestone, Shri Pradip Kumar Das, Chairman and Managing Director of IREDA, stated, “The successful completion of this QIP, just months after our IPO in November 2023, underscores the strong trust the investor community and the Ministry of New & Renewable Energy have placed in IREDA. This capital infusion will empower us to scale our financing capabilities, drive greater investment in renewable projects, and accelerate India’s green energy transition.”
Shri Das also expressed 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; the Department of Investment and Public Asset Management (DIPAM); and IREDA’s Board of Directors for their guidance and support.
IREDA thanked the institutional investors and stakeholders for their continued confidence and reaffirmed its commitment to advance clean energy financing in India.
Disclaimer:
This content is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. All financial figures and details are based on publicly available information as of June 2025. Readers are advised to consult financial experts or conduct their own research before making any investment decisions.
