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IREDA Launches ₹4,500 Crore QIP at ₹173.83 Floor Price to Fuel Renewable Expansion

The agency will determine the final share price with lead managers to secure funds for its planned expansion in renewable energy financing.

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Overview

  • The QIP was launched on June 5 to raise up to ₹4,500 crore through a qualified institutional placement at a floor price of ₹173.83 per share.
  • Shares closed at ₹176.50 on Thursday, marking a 1.4% gain for the day and a 10% rise over the past month.
  • Retail investor numbers have climbed from 13.5 lakh in December 2023 to 26.48 lakh, giving them a 20.25% stake in IREDA.
  • The government retains a 75% ownership stake while domestic mutual funds and foreign portfolio investors hold 0.23% and 1.75% respectively.
  • Since its December 2023 IPO at ₹32 per share, IREDA’s stock has multiplied nearly sevenfold, driving management’s push for fresh growth capital.