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IREDA launches QIP with floor price of Rs 173.83/share
06-Jun-25   10:48 Hrs IST

The board of directors of the bank authorized and declared the opening of the issue on Thursday, 5 June 2025.

The floor price of Rs 173.83 is at a discount of 1.51% to the scrip's previous closing price of Rs 176.50 on the BSE.

The bank may, at its discretion, offer a discount of not more than 5% on the floor price so calculated for the QIP.

Indian Renewable Energy Development Agency (IREDA) is a 'Navratna' Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). IREDA is a public limited government company, established as a non-banking financial institution in 1987, engaged in promoting, developing, and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.

The company's consolidated net profit jumped 48.66% to Rs 501.55 crore on a 36.93% increase in revenue from operations to Rs 1,905.06 crore in Q4 FY25 over Q4 FY24.

Shares of Indian Renewable Energy Development Agency (IREDA) shed 0.91% to Rs 174.90 on the BSE.

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