Under this, the Indian government will sell a 7% stake in the lender. Indian Renewable Energy Development Agency Limited (IREDA) has been given the go signal to raise around INR4,500 crore through fresh equity issue which will be used to fund renewable energy projects,

Indian Renewable Energy Development Agency (IREDA) received approval to raise Rs 4,500 crore through equity shares to qualified institutions. This move, sanctioned by the Department of Investment and Public Asset Management (DIPAM),

Cheering the news, shares of IREDA rose as much as 4.4% to ₹237.50 on the BSE, while the market capitalisation climbed over ₹64,000 crore. Early today, the stock opened higher at ₹234 against the previous closing price of ₹227.50, snapping four sessions losing streak.

Indian Renewable Energy Development Agency (IREDA) plans to raise ₹30,000 crore in FY25 through debt and equity. The company, which listed in November 2023, aims to fund part of this through a follow-on public offer by early next year.

IREDA has received an approval to raise up to Rs 4,500 crore via QIP, diluting up to 7% of the government equity stake.

IREDA share price has gained over 30% in one month, while the PSU stock has given multibagger returns of more than 126% year-to-date (YTD). IREDA was commanding a market capitalisation of over ₹62,600 crore on Thursday.

Shares of Indian Renewable Energy Development Agency (IREDA) have jumped over 30% in the past month, delivering over 126% returns year-to-date. As of Thursday, the company's market capitalization surpassed Rs 62,