IREDA's Strategic Move: Rs 5,000 Crore Fundraising via QIP

IREDA plans to raise up to Rs 5,000 crore through qualified institutions placement, maintaining strong government shareholding. The funds will bolster green energy project financing.

The Indian Renewable Energy Development Agency (IREDA) has announced its plan to raise up to Rs 5,000 crore via qualified institutions placement (QIP).

This strategic decision, made in a recent board meeting, aims to strengthen financing for green energy projects across India without significantly diluting government ownership.

Chairman Pradip Kumar Das emphasized IREDA's commitment to scaling up support for clean energy, ensuring the government's robust stake remains intact post-transaction.

(With inputs from agencies.)