IREDA QIP: Floor price set at ₹173.83 per share to raise up to ₹5,000 crore; check details

The PSU on Thursday, June 5, said its board has fixed the floor price for qualified institutional placement (QIP) at ₹173.83 per equity share to raise about ₹5,000 crore.

A QIP is a mechanism used by listed companies to raise funds from institutional investors.

The development comes after the IREDA board in January this year approved a QIP to raise up to ₹5,000 crore. Subsequently, the proposal was cleared by the company's shareholders in February.

"Pursuant to the approval of the Board of Directors at its meeting held on January 23 and approval of the shareholders of the company by way of a special resolution passed on February 24, the Board in its meeting held has approved the authorising of the opening of the proposed issue on June 5, 2025, to eligible qualified institutional buyers," the company said in a regulatory filing.

The company also said it may offer a discount of up to 5% on the floor price in line with shareholder approval.

IREDA said the company will determine the issue price in consultation with the book running lead managers appointed for the issue. Further, the trading window will remain closed for the QIP issue till further intimation.

The share sale to institutional investors will not dilute more than 7% of the post-issue paid-up equity share capital of the company.

IREDA said it will use the financial resources to support the growing demand for green energy financing.

IREDA Q4 FY25 Results

IREDA reported a 49% rise in its standalone profit after tax (PAT) to ₹502 crore in the quarter ended March 31, 2025.

Its revenue from operations rose 37% year-on-year (YoY) to ₹1,904 crore in the fourth quarter, the company said in a statement.

For FY25, the company said its PAT was the highest ever at ₹1,699 crore, up 36% compared to FY24.

Its revenue from operations also grew by 36% YoY to ₹6,742 crore in FY25.

As of March, the company said its net worth was at ₹10,266 crore, up 20% YoY.

The company has registered a 20% growth in its loan book to ₹76,282 crore in FY25.

"IREDA's sustained growth in revenue, profitability, and loan book underscores our strategic focus on financing India's renewable energy ambitions.

"We remain committed to being the enabler of India's green energy transition through innovative financial solutions and strategic partnerships," its Chairman and Managing Director Pradip Kumar Das said.

IREDA, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.

It was established as a non-banking financial institution in 1987.