Indian Renewable Energy Development Agency (IREDA) locked in upper circuit of 5% to Rs 138.65 after the firm's board will meet on Thursday, 28 March 2024 to consider raising Rs 24,200 crore through borrowing program for financial year 2024-2025.
The meeting will be held on Thursday, March 28,2024, inter-alia, to consider the matter with respect to borrowing programme up to Rs 24,200 crore for FY2024-25 (borrowing includes fund raising through issuance of bonds, term loans, commercial papers etc, from domestic & international markets), IREDA said in the press release.IREDA is a Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). It is also conferred with the Mini Ratna (Category-I) status. As on December 2023, GoI held 75% stake in IREDA
IREDA's net profit surged 67.14% to Rs 335.54 crore on 44.2% increase in total income to Rs 1253.20 crore in Q3 December 2023 over Q3 December 2022. Profit before tax soared 64.5% YoY to Rs 386.14 crore in Q3 December 2023.
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