IREDA share: Navratna PSU stock sets board meeting date for fundraise. Details here | Stock Market News
Source: Live Mint
IREDA share: The Indian Renewable Energy Development Agency (IREDA) Limited has declared a board meeting date on 23 January 2025 to consider and approve the proposal for raising funds. The Navratna PSU company set a board meeting date after receiving a proposal to raise funds through the issuance of equity shares through Qualified Institutions Placement (QIP). Hence, after this fundraising move, IREDA’s share price is expected to remain under the lead of Indian stock market investors when trading activity resumes on Monday next week.
IREDA news
The Indian PSU, which provides financial assistance and other services to projects related to renewable sources of energy and energy efficiency/conservation, informed the Indian stock market exchanges about the move, saying, “This is to inform you that the meeting of the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) is scheduled to be held on Thursday, January 23, 2025, inter alia to consider and approve the following: 1] Raising of funds through the issuance of equity shares by way of a qualified institutions placement (“QIP”), in accordance with applicable laws, subject to approval of the shareholders of the Company and any governmental/ regulatory/ statutory authorities, as may be required. 2] EGM Notice for seeking approval of the Shareholders of the Company in respect of, inter alia raising of funds by way of issuance of equity shares through a QIP.”
“Further, in accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, read with amendment thereto and Company’s Policy under the said regulations the “Trading Window” for dealings in the Company’s securities shall be closed from January 18, 2025 till 48 hours after the conclusion of the board meeting,” the PSU added.
IREDA share price history
IREDA IPO is one of the multibagger IPOs that the Indian stock market has delivered in recent years. IREDA IPO was launched in November 2023 at a price band of ₹30 to ₹32 per equity share. IREDA share price was listed on the BSE and NSE on 29 November 2023 at a whopping of over 55 per cent. However, the bull run didn’t end there. The Navratna stock continued attracting bulls’ attention and touched a record high of ₹310 apiece on the NSE on 12 July 2024, rising over 850 per cent in less than eight months of share listing.
IREDA share price ended at ₹206.80 apiece on the NSE after the Friday deals.
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