Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP). The capital was generated by issuing 12.15 crore equity shares at ₹165.14 each, which includes a premium of ₹155.14 per share above the face value of ₹10.
The issue price of ₹165.14 per share is a 5% discount to the floor price of ₹173.83 per share. The QIP, launched on June 5, 2025, and closed on June 10, 2025, saw a strong response from both domestic and international qualified institutional buyers (QIBs), including insurance companies, commercial banks, and foreign portfolio investors. The Board of Directors approved the allotment of equity shares to eligible QIBs during a meeting on June 11, 2025.
The QIP was oversubscribed, with bids totaling ₹2,005.90 crore, surpassing the base issue size of ₹1,500 crore and achieving a subscription of 1.34 times. This successful fundraise will bolster IREDA’s Tier-I capital and overall Capital Adequacy Ratio (CAR), boosting its ability to support the growth of India’s renewable energy sector.
Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, remarked, “The success of this QIP, completed just months after our IPO in November 2023, is a clear reflection of the trust placed in IREDA by both the investor community and the Ministry of New & Renewable Energy. This capital infusion will enable us to scale up our financing efforts, driving further investments into renewable energy projects and supporting India’s shift towards a greener, more sustainable energy future.”
The CMD also expressed his appreciation to Shri Pralhad Joshi, Union Minister of New & Renewable Energy, Consumer Affairs, and Food & Public Distribution; Shri Shripad Naik, Minister of State for Power and New & Renewable Energy; Shri Santosh Kumar Sarangi, Secretary of MNRE; the Department of Investment and Public Asset Management (DIPAM); and the Board of Directors for their ongoing support and guidance.
IREDA also extended its gratitude to institutional investors and stakeholders for their continued confidence, reaffirming its commitment to leading India’s clean energy financing efforts.
