Ireda share price slips 2% after company launches ₹5,000 crore QIP

Ireda share price declines after the company launched ₹5,000 crore QIP; check floor price and other details here

Indian Renewable Energy Development Agency (Ireda) share price slipped 2.3 per cent in trade on Friday, June 6, 2025, logging a day's low at ₹172.4 per share on BSE. The selling pressure on the counter came a day after the company's qualified institutional placement (QIP) was launched. 

 

At 9:46 AM, Ireda shares were trading 1.44 per cent lower at ₹173.95 per share on the BSE. In comparison, the BSE Sensex was down 0.28 per cent at 81,210.85. The market capitalisation of the company stood at ₹46,713.35 crore. The 52-week high of the stock was at ₹310 per share and the 52-week low of the stock was at ₹137 per share. 

 

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In the past one year, Ireda shares have lost 1 per cent as compared to Sensex's rise of around 8 per cent.

Ireda QIP launch 

On Thursday, after market hours, the company launched its ₹5,000 crore QIP. The floor price for the same was fixed at ₹173.83 per share which translated to a 1.5 per cent discount from the previous close of ₹176.5 per share. 

 

"We further wish to inform you that the ‘Relevant Date’ for the purpose of the QIP, in terms of Regulation 171(b)(i) of the SEBI ICDR Regulations, is June 5, 2025; and accordingly, the Floor Price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 176(1) of the Sebi ICDR Regulations, is ₹173.83 per Equity Share. Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and special resolution of the Shareholders dated February 24, 2025, the company may offer a discount of not more than 5 per cent (five percent) on the Floor Price so calculated for the QIP," the filing read.  

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In a board meeting on January 23, 2025, the fundraising up to ₹5,000 crore through QIP was approved. 

 

"The raising of funds by issue of equity shares through a qualified institutions placement (QIP), in one or more tranches, under applicable laws, for an amount aggregating up to ₹5,000 Crore (Rupees Five Thousand Crore only) or an equivalent amount thereof (inclusive of such premium as may be fixed on such equity shares), provided the shareholding of the President of India," the filing read. 

About Ireda

Ireda is a 'Navratna' Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). The company is engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.