The Indian Renewable Power Growth Company Ltd. (IREDA) mentioned it had obtained approval from the Division of Funding and Public Asset Administration (DIPAM) to lift roughly ₹4,500 crore by recent fairness situation.
The fund-raising will probably be carried out by the Certified Establishments Placement (QIP) route, with a deliberate dilution of the Authorities of India’s shareholding in IREDA by as much as 7% on a post-issue foundation, to be executed in a number of tranches, the corporate mentioned in an announcement.
The fund-raising train is aimed toward strengthening IREDA’s capital base, apart from enabling it to scale its financing for renewable vitality tasks, it added.
Pradip Kumar Das, CMD, IREDA, mentioned, “With recent capital infusion, we will probably be higher positioned to help India’s bold renewable vitality objectives and proceed taking part in a pivotal position in financing clear vitality tasks throughout the nation.”
IREDA shares closed at ₹227.50 on the BSE on Wednesday.
Printed – September 18, 2024 09:41 pm IST
