Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
Awaiting price reaction for this filing.
IREDA has received an exemption from the Reserve Bank of India under the NBFC Scale Based Regulation Directions, 2023. The exemption specifically covers paragraphs 46.2 (i) and (iii), clearing the way for IREDA to make a 5% equity investment each in GMR Upper Karnali Hydropower Limited (GUKHL) and Karnali Transmission Company Pvt Ltd. (KTCL), both based in Nepal. This is a follow-up to IREDA's earlier letter dated 8 March 2025. The exemption is conditional on compliance with conditions specified by the RBI.
This is a positive regulatory development for IREDA, as it removes a key RBI-related hurdle for its planned overseas investments in Nepal's hydropower and transmission sector. For shareholders, this signals progress on IREDA's international expansion strategy, though the investments remain subject to stated conditions.