The company clarified, planned issuance would not dilute the stake of government of India in the company not beyond 7 per cent post the issue
Government's shareholding in Ireda would not dilute by more than 7 per cent of its 75 per cent stake in the firm, the company said
State-owned IREDA has finalised a joint venture agreement with SJVN, GMR Energy and the Nepal Electricity Authority to set up a 900 megawatt hydropower project in Nepal. The agreement for the 900 MW Upper Karnali hydro-electric project was formalised in New Delhi on Thursday, in the presence of senior officials from IREDA, SJVN, and GMR Energy. In a statement on Thursday, IREDA said, "It has finalised a joint venture agreement with SJVN Ltd, GMR Energy Ltd, and Nepal Electricity Authority (NEA) for the development of the 900 MW Upper Karnali hydro-electric project in Nepal. This strategic initiative aims to strengthen regional energy security and accelerate renewable energy growth." The joint venture agreement lays out a comprehensive framework for project development, construction, operation, and maintenance under a Build-Own-Operate-Transfer (BOOT) model, with a 25-year project term from the Commercial Operation Date (CoD). IREDA CMD Pradip Kumar Das said, "This agreement marks a
The company's net profit climbed about 27 per cent year-on-year to Rs 425.4 crore in the December quarter of financial year 2025 (Q3FY25), from Rs 335.5 crore in the same quarter a year ago (Q3FY24)
Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi will be in focus post their Q3 results, also, Swiggy, Zomato, Vi and others will be on the radar
On a sequential basis, the profit after tax (PAT) grew 10 per cent over Rs 387.75 crore reported in Q2FY25
Stock Market Today LIVE Updates, Jan 9: In the broader markets, the Nifty MidCap and SmallCap indices were flat
In the previous session, the Sensex ended at 78,141.06, registering a decline of 58 points or 0.07 per cent, while the Nifty50 closed at 23,688.95, down 19 points or 0.08 per cent
IREDA stock is seen attempting a breakout on the daily scale, while SJVN is testing support at the key monthly moving average, which the stock has held since August 2020; shows the technical charts.
State-owned Indian Renewable Energy Development Agency (IREDA) has logged 41 per cent loan disbursement growth to Rs 17,236 crore in the December quarter. As per provisional figures, IREDA sanctioned loans worth Rs 31,087 crore in the third quarter, marking an extraordinary 129 per cent Year-on-Year (YoY) rise compared to Rs 13,558 crore in the corresponding period last year, according to a company statement issued late Tuesday evening. Loan disbursements also witnessed significant growth, increasing by 41 per cent YoY to Rs 17,236 crore from Rs 12,220 crore a year ago, the statement said. The outstanding loan book surged by 36 per cent, reaching Rs 69,000 crore as of December 31, 2024, compared to Rs 50,580 crore last year. "IREDA's outstanding performance reflects our unwavering commitment to driving India's renewable energy transition. "The 129 per cent growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in ...
The rise in the IREDA share price came after the company posted a strong set of numbers in the December quarter of the financial year 2025 (Q3FY25) business update
The Indian Renewable Energy Development Agency Limited has sanctioned over Rs 3,000 crore for green energy projects across Odisha, covering solar, hydro, ethanol and renewable energy manufacturing sectors, a top IREDA official said here on Monday. Chairman and Managing Director of IREDA, Pradip Kumar Das said this while addressing the Odisha Solar Investor Conclave, organised by GRIDCO and iFOREST (International Forum for Environment Sustainability and Technology) here. Das reaffirmed its commitment to Odisha's ambitious renewable energy target, with the state setting its vision on achieving 10 GW (gigawatt) capacity by 2030. He highlighted IREDA's unique position as a competitive financier with fully paperless, digitized and borrower-friendly operations, fostering seamless support for green energy projects. Das said Odisha has the potential to emerge as a leading solar power producer and a hub for solar equipment manufacturing. Sharing IREDA's national contributions, he noted tha
The state-owned Indian Renewable Energy Development Agency (IREDA) also featured prominently, securing the 7th spot with a 526.31 per cent return
State-run IREDA has received approval from DIPAM to set up a wholly-owned subsidiary to undertake retail and B2B business in the renewable energy sector. Indian Renewable Energy Development Agency (IREDA), under the Ministry of new and renewable energy, is a non-banking financial institution. It has received in-principle approval from the Department of Investment and Public Asset Management (DIPAM) to establish a wholly-owned subsidiary to handle retail business under PM-Suryaghar (Rooftop Solar), PM-KUSUM schemes, and other B2C segments in the renewable energy (RE) sector, IREDA said in a statement on Thursday. The subsidiary will also focus on emerging RE sectors, including EVs, energy storage, green technologies, sustainability, energy efficiency, etc. IREDA CMD Pradip Kumar Das said, "By extending our expertise in RE finance to retail market, we will provide innovative financing options for both urban and rural consumers, promoting sustainable practices and reducing carbon ...
The state-owned company, on Thursday, reported a 36 per cent rise in profit after tax, reaching Rs 387.7 crore for the September quarter (Q2FY25), compared to Rs 284.7 crore in Q2FY24
State-owned Ireda on Thursday reported a 36 per cent rise in its profit after tax to Rs 387.75 crore in the September quarter on higher revenues. The company had posted a profit after tax (PAT) of Rs 284.73 crore in the July-September period of the preceding 2023-24 fiscal, it said in an exchange filing. Its total revenue from operations rose 38.52 per cent year-on-year to Rs 1,630.38 crore from Rs 1,176.96 crore. Ireda's loan book increased by 35.88 per cent to Rs 64,564.36 crore from Rs 47,514.48 crore in the same quarter a year. Loan sanctions jumped around four-fold to Rs 8,723.78 crore against Rs 2,852.05 crore in the second quarter last fiscal. The company disbursed Rs 4,461.87 crore worth of loans, up 43.93 per cent from Rs 3,099.98 crore in the year-ago quarter. Ireda CMD Pradip Kumar Das said, "Q2 results reflect our unwavering dedication to advancing India's renewable energy goals. The substantial growth in loan sanctions and disbursements underscores the company's ...
The company experienced a substantial rise in loan disbursements, which increased by 56 per cent to Rs 9,787 crore, up from Rs 6,273 crore in September 2023
State-owned Indian Renewable Energy Development Agency (IREDA) said it has received the government's approval to raise up to Rs 4,500 crore through an issue of equity shares to qualified institutions placement. The approval was granted by the Department of Investment and Public Asset Management (DIPAM) based on the recommendations of a high-level committee, a company statement said. According to the statement, the fundraising will be carried out through the Qualified Institutions Placement (QIP) route, with a planned dilution of the Government of India's shareholding in IREDA by up to 7 per cent on a post-issue basis, to be executed in one or more tranches. The fundraising exercise aims to strengthen IREDA's capital base, enabling the organisation to scale its financing for renewable energy projects and further accelerate India's transition to clean energy. "DIPAM approval represents a critical step forward in our expansion plans," Pradip Kumar Das, Chairman and Managing Director o
The IREDA scrip surged as much as 7.21 per cent to hit an intraday high of Rs 239.35 per share.
Indian Renewable Energy Development Agency (IREDA) on Monday said it has inked initial pacts with SJVN and GMR Energy for the development and implementation of the 900 MW Upper Karnali hydro-electric project in Nepal. This collaboration aims to enhance regional energy security through the development of renewable energy infrastructure, a statement said. Pradip Kumar Das, Chairman & Managing Director of IREDA, said, Our investment in this important hydropower project underscores IREDA's ongoing commitment to advancing renewable energy initiatives. This collaboration not only accelerates the development of Nepal's hydropower sector but also strengthens regional energy cooperation, supporting our shared goal of sustainable growth. The project holds strategic importance for IREDA, as it will help harness Nepal's vast hydropower potential while reinforcing IREDA's dedication to renewable energy development.