Outcome of the Board Meeting held on 10.06.2025
Awaiting price reaction for this filing.
IREDA has finalized its Qualified Institutions Placement (QIP) of equity shares. The Board approved the allotment of 12,14,66,562 equity shares (face value ₹10) to eligible institutional buyers at ₹165.14 per share, which is a 5% discount (₹8.69) to the floor price of ₹173.83. The total issue size works out to approximately ₹2,021 crore. The issue period ran from June 5 to June 10, 2025, and the placement document has been finalized. The shares carry a premium of ₹155.14 over face value.
The QIP will dilute existing shareholders by about 4-5% (based on ~12.15 crore new shares). However, it raises substantial capital (~₹2,021 crore) to strengthen IREDA's lending capacity in the renewable energy sector. Pricing at a 5% discount to floor price is standard but may put mild short-term pressure on the stock.