Indian Renewable Power Improvement Company Ltd. (IREDA) has efficiently raised Rs 2,005.90 crore via Certified Establishments Placement (QIP).
The capital was mobilised by issuing 12.15 crore fairness shares at a worth of Rs 165.14 per share, which features a premium of Rs 155.14 per share over the face worth of Rs 10, in keeping with an official assertion issued on Wednesday.
The problem worth of Rs 165.14 displays a reduction of 5 per cent to the ground worth of Rs 173.83 per fairness share.
Launched on June 5 this yr, the QIP problem closed on June 10, receiving an encouraging response from a various set of each home and international Certified Institutional Consumers (QIBs) together with insurance coverage firms, scheduled business banks and Overseas Portfolio Traders.
The Board has accredited allotment of fairness shares to eligible QIBs at its assembly held on Wednesday.
The QIP problem was oversubscribed with bids amounting to Rs 2,005.90 crore in opposition to the bottom problem dimension of Rs 1,500 crore, reaching a subscription of 1.34 instances.
The capital raised via this profitable problem will additional strengthen IREDA’s Tier-I capital and general Capital Adequacy Ratio (CAR), enhancing the corporate’s capability to help the increasing renewable power sector in India.
Pradip Kumar Das, Chairman & Managing Director, IREDA, stated: “The profitable completion of this QIP in a brief span after our IPO in November 2023 is a testomony to the belief and confidence the investor group and the Ministry of New and Renewable Power have reposed in IREDA.
“This capital infusion will empower us to scale up our financing actions, enabling larger investments in renewable power initiatives and accelerating India’s transition in the direction of a greener and sustainable power future.”
IREDA has recorded a strong 49 per cent bounce in internet revenue to Rs 502 crore for the January-March quarter of monetary yr 2024-25 in comparison with Rs 337 crore in the identical quarter of the earlier fiscal yr.
The nation’s largest pure-play inexperienced financing NBFC recorded a income of Rs 1,392 crore throughout the fourth quarter which represents a 37.7 per cent improve from Rs 1,916 crore within the This fall of FY 2023-24.
The Authorities-owned NBFC’s mortgage sanctions for the fourth quarter recorded a 27 per cent rise to Rs 47,453 crore whereas mortgage disbursements for the quarter rose 20 per cent to Rs 30,168 crore.
