The Indian Renewable Energy Development Agency Ltd (IREDA) has successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP), according to a statement from the Ministry of New and Renewable Energy. The agency issued 12.15 crore equity shares priced at ₹165.14 each, which includes a premium of ₹155.14 over the face value of ₹10. This price reflects a 5% discount to the floor price of ₹173.83 per equity share.
The QIP, launched on June 5, 2025, closed on June 10, 2025, receiving strong interest from a range of domestic and foreign qualified institutional buyers, including insurance companies and commercial banks. The final allotment of shares to eligible buyers was approved by the IREDA Board on June 11, 2025. The issue was oversubscribed, with bids reaching ₹2,005.90 crore against an initial base size of ₹1,500 crore, resulting in a subscription rate of 1.34 times.
This funding will bolster IREDA’s Tier-I capital and improve its overall Capital Adequacy Ratio (CAR), enabling the agency to increase its financing capabilities for renewable energy initiatives across India. Pradip Kumar Das, Chairman and Managing Director of IREDA, expressed that this successful QIP demonstrates the confidence that investors and the Ministry of New & Renewable Energy have in the agency. He highlighted that this capital infusion will allow IREDA to expand its financing activities and support greater investments in renewable energy projects, thereby accelerating India’s transition to sustainable energy.
Das also thanked key figures, including Pralhad Joshi, Union Minister of New & Renewable Energy, and Shripad Naik, Minister of State for Power and New & Renewable Energy, along with other officials for their support. IREDA reiterated its commitment to leading the financing of clean energy projects in India, emphasizing the importance of this funding in achieving national energy goals.