IREDA's QIP Success: Pioneering India's Green Energy Future

Indian Renewable Energy Development Agency Ltd (IREDA) has raised Rs 2,005.90 crore through a Qualified Institutions Placement, exceeding the base size by 34%. This bolsters IREDA's capital adequacy, aiding its mission to finance renewable energy projects, fostering India's green energy transition.

The Indian Renewable Energy Development Agency Ltd (IREDA) has successfully garnered Rs 2,005.90 crore via a Qualified Institutions Placement (QIP), a move praised by the Ministry of New and Renewable Energy. The funds were raised by issuing 12.15 crore equity shares priced at Rs 165.14 each, including a premium over their Rs 10 face value.

Pricing the issue at Rs 165.14 signaled a 5.00% discount on the floor price of Rs 173.83 per share. The QIP was launched on June 5, 2025, and concluded on June 10, 2025, drawing strong interest from domestic and international qualified institutional buyers like insurance companies, commercial banks, and foreign investors. IREDA's board has sanctioned the share allotment to eligible buyers in a recent meeting.

The QIP saw enthusiastic response beyond its Rs 1,500 crore base size, being oversubscribed by 1.34 times. This capital injection will reinforce IREDA's Tier-I capital and improve its Capital Adequacy Ratio, enabling it to finance more renewable energy projects in India. Pradip Kumar Das, IREDA's Chairman & Managing Director, celebrated this milestone, crediting it to investor belief and ministerial support.

Das thanked key government figures for their backing and guidance, including Union Minister Pralhad Joshi and others, emphasizing the agency's role in propelling India's shift to sustainable energy. IREDA also acknowledged its investors and stakeholders, committing to lead the nation's clean energy financing efforts.

(With inputs from agencies.)