(Times Now)
The Indian Renewable Energy Development Agency Ltd. (IREDA), a public sector enterprise under the Ministry of New & Renewable Energy, has mobilised Rs 2,005.90 crore through a Qualified Institutions Placement (QIP), signalling robust investor confidence in India’s green energy agenda.
Launched on June 5 and concluded by June 10, the QIP involved the issuance of approximately 12.15 crore equity shares at Rs 165.14 each. This price includes a premium of Rs 155.14 over the face value of Rs 10 and reflects a discount of 5 per cent to the floor price of Rs 173.83 per share.
The placement drew enthusiastic participation from a mix of domestic and international Qualified Institutional Buyers (QIBs), including foreign portfolio investors, insurance companies, and scheduled commercial banks. According to an official statement, the issue was oversubscribed, receiving bids worth Rs 2,005.90 crore against the base issue size of Rs 1,500 crore—a subscription rate of 1.34 times.
The IREDA Board approved the allotment of equity shares to eligible QIBs during its meeting held on June 11, 2025.
Shri Pradip Kumar Das, Chairman and Managing Director of IREDA, described the successful QIP as a landmark event. “The successful completion of this QIP in a short span after our IPO in November 2023 is a testament to the trust and confidence the investor community and the Ministry of New & Renewable Energy have reposed in IREDA,” he said.
He added, “This capital infusion will empower us to scale up our financing activities, enabling greater investments in renewable energy projects and accelerating India’s transition towards a greener and sustainable energy future.”
IREDA confirmed that the proceeds from the QIP would strengthen its Tier-I capital and improve its overall Capital Adequacy Ratio (CAR), enhancing the company’s lending ability at a time when India is ramping up its renewable energy infrastructure.
CMD Das also extended his appreciation to key government figures who supported the capital raising effort. “We are deeply grateful to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy; Shri Santosh Kumar Sarangi, Secretary, MNRE; the Department of Investment and Public Asset Management (DIPAM); and our Board of Directors for their support and invaluable guidance,” he stated.
The company also thanked institutional investors and stakeholders for their continued support, reaffirming its commitment to playing a leading role in India’s clean energy financing landscape.
The development marks another significant step in IREDA’s mission to provide financial support for renewable energy and energy efficiency projects across India. Following its IPO in late 2023, this latest QIP underlines IREDA’s rising credibility in capital markets and the growing investor appetite for green financing.
