The board of Indian Renewable Energy Development Agency (IREDA) has approved raising up to ₹2,994 Crore via Qualified Institutions Placement (QIP). The fundraising will occur in one or more tranches, subject to shareholder approval and regulatory clearances. The board’s decision ensures that the Indian President’s shareholding, via the Ministry of New and Renewable Energy, does not dilute by more than 3.76% post-issue.
Fundraising via QIP
IREDA’s board has greenlit a plan to raise funds through the issuance of equity shares via a qualified institutions placement (QIP). The approval was granted at a board meeting held on February 06, 2026.
QIP Details
The aggregate amount to be raised through the QIP is up to ₹2,994 Crore. The QIP may be executed in one or more tranches, depending on market conditions and regulatory considerations.
Shareholding Impact
The resolution includes a provision ensuring that the shareholding of the President of India, acting through the Ministry of New and Renewable Energy, does not dilute more than 3.76% of the post-issue paid-up equity share capital of the Company.
Required Approvals
The fundraising is subject to the approval of the shareholders and other government/regulatory/statutory approvals, as may be required.
Postal Ballot
A notice of postal ballot will be sent to shareholders seeking approval for the issue and related actions. The cut-off date for sending the notice and reckoning E-Voting Rights is Friday, February 06, 2026.
Source: BSE
