Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised Rs 2,005.90 crore through a Qualified Institutions Placement (QIP). The capital was mobilized by issuing 12.15 crore equity shares at a price of Rs 165.14 per share, which includes a premium of Rs 155.14 per share over the face value of Rs 10.
The issue price of Rs 165.14 reflects a discount of 5.00% to the floor price of Rs 173.83 per equity share. Launched on June 5, 2025, the QIP issue closed on June 10, 2025, receiving an encouraging response from a diverse set of both domestic and foreign qualified institutional buyers (QIBs) including insurance companies, scheduled commercial banks and foreign portfolio investors. The Board has approved allotment of equity shares to eligible qualified institutional buyers in its meeting held today i.e. June 11, 2025.
The QIP was oversubscribed with bids amounting to Rs 2,005.90 crore against the base issue size of Rs 1,500 crore, achieving a subscription of 1.34 times. The capital raised through this successful issue will further strengthen IREDA's Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing the company’s capacity to support the expanding renewable energy sector in India.