IREDA shares climb 5% after board increases borrowing limit to Rs 29,200-cr

IREDA share price: Shares of state-owned Non-banking financial company (NBFC) Indian Renewable Energy Development Agency (IREDA) were ruling higher on the bourses on Tuesday, March 18, 2025. IREDA share price advanced 4.76 per cent to the day's high of Rs 144.75 per share on the National Stock Exchange (NSE) during intra-day deals on Tuesday.

 

The uptick in IREDA share price is fueled by the news that the company's board has increased the borrowing limit for FY 2024-25 to Rs 29,200 crore from Rs 24,200 crore.

 

IREDA, in an exchange filing, has said that its "Board of Directors, in its meeting held on Monday, March 17, 2025, inter alia, has approved the enhancement of the borrowing programme for FY 2024-25 by Rs 5,000 crore through taxable bonds, subordinated Tier-II bonds, perpetual debt instruments (PDI), term loans from banks and FIs, lines of credit from international agencies (multilateral and bilateral agencies), external commercial borrowings (ECB), short-term loans, and WCDL from banks."

 

Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.

Subscribe

 

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) and has played a strategic role in promoting and developing the renewable energy sector in India. The company provides financial assistance for renewable energy projects in India. IREDA offers various financial products, including loans and non-fund-based assistance. The company is under the administrative control of the Ministry of New and Renewable Energy (MNRE).

 

As of March 18, 2025, IREDA's market capitalisation stands at Rs 38,647.37 crore on the NSE. The company is a constituent of the Nifty Midcap100 index.

 

Notably, the company's shares made their debut on the bourses on November 29, 2023, at Rs 50 per share. IREDA shares have dropped nearly 37 per cent in the last six months, while they have advanced nearly 8 per cent in the last year.

 

Navratna shares have a 52-week range of Rs 310 - Rs 124.40 on the NSE.

 

At around 11:11 AM on Tuesday, IREDA shares were trading at Rs 143.56 per share, up 3.91 per cent from their previous close of Rs 138.16 on the NSE.

 

At the same time, the BSE Sensex was trading at 75,024, up 854 points or 1.15 per cent, while the NSE Nifty50 was up 254 points or 1.13 per cent at 22,763.