IREDA QIP: Rs 2,005.90 Cr Raised Via Share Issue; LIC Leads With 50% Allocation

Last Updated:June 11, 2025, 10:52 IST

A major portion of the issue was picked up by LIC, which invested approximately Rs 1,002.95 crore for 6,07,33,280 shares, accounting for 50% of the total QIP.

IREDA QIP: The board of IREDA (Indian Renewable Energy Development Agency) on Wednesday approved QIP (Qualified Institutions Placement) of Rs 2,005.90 crore. According to press release, a total of 12,14,66,562 equity shares were allotted at an issue price of Rs 165.14 per equity share, reflecting a premium of Rs 155.14 per equity above the face value of Rs 10 per equity. They are being issued at a discount of Rs 8.69 per share, given the floor price of 5 per cent.

A major portion of the issue was picked up by the Life Insurance Corporation of India (LIC), which invested approximately Rs 1,002.95 crore for 6,07,33,280 shares, accounting for 50% of the total QIP. Societe Generale (ODI) followed with an investment of around Rs 180.23 crore for 1,09,10,257 shares, while Morgan Stanley Asia (Singapore) PTE acquired 1,10,76,814 shares for nearly Rs 182.89 crore. Vikasa India EIF I Fund subscribed to 62,34,433 shares, investing approximately Rs 102.95 crore. The shares were issued at a discount of Rs 8.69 per share, which is 5% below the floor price, in line with SEBI’s ICDR regulations.

IREDA is a “Navratna” public financial institution and non-banking financial company (NBFC)

IREDA shares traded flat at Rs 182.40 apiece at the time of writing this report. Earlier, the scrip opened at Rs 182.45 apiece, against the previous day close at Rs 182.45 apiece. The stock’s 52-week high and low reflects at Rs 310 apiece and Rs 137 apiece, respectively.

IREDA has a market cap of Rs 49,038 crore and is part of BSE 200.

LIC shares, on the other hand, traded 0.50 per cent higher at Rs 951.45 apiece.

IREDA reported a 49% increase in its standalone net profit, reaching Rs 502 crore for the March 2025 quarter, compared to Rs 337 crore in the same period last year.

For the full financial year 2024-2025 (FY25), IREDA achieved a net profit of Rs 1,698.60 crore, up from Rs 1,252.24 crore in FY24, indicating a 36% growth on a YoY basis. Additionally, the overall revenue rose by 36% YoY to Rs 6,742 crore during the reviewed year, compared to Rs 4,964 crore in the previous financial year.

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Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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