IREDA Secures Shareholders' Nod for Rs 5,000 Crore Equity Issuance

State-owned IREDA has secured approval from its shareholders to raise up to Rs 5,000 crore through equity shares for qualified institutional buyers, indicating a significant move for growth and expansion.

In a strategic move for expansion, state-owned Indian Renewable Energy Development Agency (IREDA) has received approval from its shareholders to raise a substantial Rs 5,000 crore through the issuance of equity shares targeted at qualified institutional buyers.

The decision was finalized at the company's 22nd Extraordinary General Meeting, where all proposed resolutions were passed with the requisite majority, according to a BSE filing.

The capital raised is aimed at exploring and expanding growth opportunities within IREDA's current operations, as the company continues to evaluate new ventures for sustainable growth.

(With inputs from agencies.)