Outcome of the Board Meeting held on 05.06.2025
IREDA · price
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IREDA's board has approved the opening of a Qualified Institutions Placement (QIP) of equity shares with a face value of ₹10 each, open to eligible institutional buyers from June 5, 2025. The floor price has been set at ₹173.83 per share, based on the SEBI pricing formula, and the company may offer a discount of up to 5% on this floor price. The actual issue price will be determined later in consultation with the book running lead managers based on investor demand. The board also approved the preliminary placement document for the QIP. The trading window for the stock remains closed until further notice.
Existing shareholders may face dilution as new shares are issued to institutional investors, though the fresh capital should support IREDA's lending and growth in the renewable energy sector. The short-term stock price may remain under pressure due to the closed trading window and uncertainty around the final issue price.