IREDA Raises Rs 20 Billion via QIP to Boost Clean Energy
12 Jun 2025
2 Min Read
CW Team
Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised Rs 20.06 billion through a Qualified Institutions Placement (QIP), issuing 121.5 million equity shares at Rs 165.14 each, inclusive of a Rs 155.14 premium over the Rs 10 face value.
The issue price reflected a 5 per cent discount to the floor price of Rs 173.83 per share. Launched on 5 June 2025 and closed on 10 June, the QIP drew strong interest from a wide range of qualified institutional buyers (QIBs), both domestic and international, including insurance firms, scheduled banks, and foreign portfolio investors. The IREDA Board approved the share allotment to eligible QIBs on 11 June.
The QIP was oversubscribed with bids worth Rs 20.06 billion against a base issue size of Rs 15 billion, achieving a subscription ratio of 1.34 times. This capital infusion is expected to reinforce IREDA's Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing its capacity to support India鈥檚 rapidly growing renewable energy sector.
IREDA鈥檚 Chairman and Managing Director, Shri Pradip Kumar Das, stated that the QIP's success shortly after the agency鈥檚 IPO in November 2023 reflected investor confidence and support from the Ministry of New & Renewable Energy. He emphasised that the funds will enable IREDA to scale its financing capabilities and accelerate India鈥檚 shift to sustainable energy.
He also thanked Union Minister Shri Pralhad Joshi, Minister of State Shri Shripad Naik, MNRE Secretary Shri Santosh Kumar Sarangi, DIPAM, and IREDA鈥檚 Board for their support and guidance. IREDA extended gratitude to all institutional investors, reaffirming its commitment to leading India鈥檚 clean energy financing initiatives.
Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised Rs 20.06 billion through a Qualified Institutions Placement (QIP), issuing 121.5 million equity shares at Rs 165.14 each, inclusive of a Rs 155.14 premium over the Rs 10 face value.The issue price reflected a 5 per cent discount to the floor price of Rs 173.83 per share. Launched on 5 June 2025 and closed on 10 June, the QIP drew strong interest from a wide range of qualified institutional buyers (QIBs), both domestic and international, including insurance firms, scheduled banks, and foreign portfolio investors. The IREDA Board approved the share allotment to eligible QIBs on 11 June.The QIP was oversubscribed with bids worth Rs 20.06 billion against a base issue size of Rs 15 billion, achieving a subscription ratio of 1.34 times. This capital infusion is expected to reinforce IREDA's Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing its capacity to support India鈥檚 rapidly growing renewable energy sector.IREDA鈥檚 Chairman and Managing Director, Shri Pradip Kumar Das, stated that the QIP's success shortly after the agency鈥檚 IPO in November 2023 reflected investor confidence and support from the Ministry of New & Renewable Energy. He emphasised that the funds will enable IREDA to scale its financing capabilities and accelerate India鈥檚 shift to sustainable energy.He also thanked Union Minister Shri Pralhad Joshi, Minister of State Shri Shripad Naik, MNRE Secretary Shri Santosh Kumar Sarangi, DIPAM, and IREDA鈥檚 Board for their support and guidance. IREDA extended gratitude to all institutional investors, reaffirming its commitment to leading India鈥檚 clean energy financing initiatives.
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