IREDA Successfully Raises ₹2,005.90 Crore via QIP to Boost Green Financing
Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP).The company mobilized capital by issuing 12.15 crore equity shares at ₹165.14 per share, including a premium of ₹155.14 over the face value of ₹10.
“IREDA QIP Oversubscribed, Raises ₹2,005.90 Cr to Boost Renewable Energy Funding”
The issue price of ₹165.14 reflects a discount of 5.00% to the floor price of ₹173.83 per equity share. The QIP issue was launched on June 5, 2025. It closed on June 10, 2025. The issue received an encouraging response from a diverse set of both domestic and foreign qualified institutional buyers (QIBs). This group included 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.
Investors oversubscribed the QIP with bids totaling ₹2,005.90 crore against the base issue size of ₹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. It will also improve the overall Capital Adequacy Ratio (CAR). This enhancement will increase the company’s capacity to support the expanding renewable energy sector in India.
“IREDA CMD Highlights QIP Success and Investor Confidence in Green Energy Push”
Reflecting on this achievement, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said: “The successful completion of this QIP was achieved in a short span. It came after our IPO in November 2023, showing the trust. It also reflects the confidence the investor community has in IREDA. The Ministry of New & Renewable Energy has also reposed trust in us. This capital infusion will empower us to scale up our financing activities. It enables greater investments in renewable energy projects. It accelerates India’s transition towards a greener and sustainable energy future.”
CMD, IREDA expressed his gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution. He also thanked Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy, and Shri Santosh Kumar Sarangi, Secretary, MNRE. Additionally, he acknowledged the Department of Investment and Public Asset Management (DIPAM). He also thanked the Board of Directors for their support and invaluable guidance.
IREDA extended its gratitude to all institutional investors and stakeholders for their continued support. It reaffirmed its commitment to leading the country’s clean energy financing initiatives.
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