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News Topical, Digital Desk : IREDA Share News: Big news has come related to the government renewable energy finance provider company Indian Renewable Energy Development Agency (IREDA).
Approval was received earlier this year. IREDA's board approved a QIP fundraising of up to ₹5,000 crore earlier this year, which was also approved by shareholders. The new fundraising plan comes just five months after the company raised ₹2,000 crore through a QIP in June 2024. In the previous QIP, the board issued 121.4 million shares at an issue price of ₹155.14 per share. The shares are currently trading slightly below these levels. LIC received 50% of the total allotted shares in that QIP, while major investors such as Societe Generale, Morgan Stanley, and Vikasa India EIF I also participated. At the end of the September quarter, the government held a 71.76% stake in IREDA. IREDA shares fell 1.2% to trade at ₹148.82 in Tuesday's session. The stock is now down more than 50% from its all-time high of ₹310 and appears to be recovering from the decline of the past two days.
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