IREDA launches QIP with floor price of Rs 173.83/share

Indian Renewable Energy Development Agency informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 173.83 per equity share.

The board of directors of the bank authorized and declared the opening of the issue on Thursday, 5 June 2025.

The floor price of Rs 173.83 is at a discount of 1.51% to the scrips previous closing price of Rs 176.50 on the BSE.

The bank may, at its discretion, offer a discount of not more than 5% on the floor price so calculated for the QIP.

Indian Renewable Energy Development Agency (IREDA) is a 'Navratna' Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). IREDA is a public limited government company, established as a non-banking financial institution in 1987, engaged in promoting, developing, and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.

The companys consolidated net profit jumped 48.66% to Rs 501.55 crore on a 36.93% increase in revenue from operations to Rs 1,905.06 crore in Q4 FY25 over Q4 FY24.

Shares of Indian Renewable Energy Development Agency (IREDA) shed 0.91% to Rs 174.90 on the BSE.

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