New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has claimed it has actually gotten authorization from the Department of Investment and Public Asset Management (DIPAM) for increasing about Rs 4500 crore with fresh equity concern.
The authorization was provided by DIPAM based upon the referrals of a High-Level Committee The fund-raising will certainly be performed with the Qualified Institutions Placement (QIP) path, with an intended dilution of the Government of India’s shareholding in IREDA by as much as 7% on a post-issue basis, to be implemented in several tranches.
The fund-raising workout intends to enhance IREDA’s resources base, allowing the company to scale its funding for renewable resource jobs and more speed up India’s shift to tidy power.
Commenting on this authorization, Shri Pradip Kumar Das, CMD, IREDA, claimed, “DIPAM approval represents a critical step forward in our expansion plans. With fresh capital infusion, we will be better positioned to support India’s ambitious renewable energy goals and continue playing a pivotal role in financing clean energy projects across the country.”
