Outcome of the Board Meeting held on 11.06.2025
Awaiting price reaction for this filing.
IREDA has completed its Qualified Institutions Placement (QIP) and allotted 12.14 crore equity shares at ₹165.14 per share, raising ₹2,005.90 crore. The issue was priced at a 5% discount (₹8.69) to the floor price determined under SEBI ICDR rules. The QIP ran from June 5 to June 10, 2025, with the board approving the allotment on June 11, 2025. As a result, IREDA's paid-up equity capital rose from ₹2,687.76 crore to ₹2,809.23 crore. Key investors include LIC (50% of the issue), Morgan Stanley Asia (9.12%), Societe Generale (8.98%), and Vikasa India EIF I Fund (5.13%).
This ₹2,006 crore capital raise strengthens IREDA's equity base to fund its growing renewable energy loan portfolio, which is positive for long-term growth. However, the 5% discount to floor price and significant equity dilution (~4.5% increase in share count) may create short-term supply pressure on the stock.