Mumbai: The Indian Renewable Energy Development Agency Limited (IREDA) announced today that it has received the green light from the Department of Investment and Public Asset Management (DIPAM) to raise approximately ₹4500 crore through a fresh equity issue.
This move, based on the recommendations of a High-Level Committee, is set to bolster IREDA’s capital reserves, allowing it to significantly expand its financing activities for renewable energy projects across the country.
The funds will be raised through the Qualified Institutions Placement (QIP) route, with the Government of India’s shareholding in IREDA expected to be diluted by up to 7% on a post-issue basis. This dilution will be carried out in one or more tranches.
This significant capital infusion is expected to play a crucial role in accelerating India’s transition to clean energy, enabling IREDA to further support the development and deployment of renewable energy projects nationwide.
