State-owned IREDA’s board approves ₹5,000 crore fundraise, hikes borrowing limit for FY25 | Stock Market News
Source: Live Mint
State-owned non-banking financial company (NBFC) Indian Renewable Energy Development Agency’s (IREDA) board of directors approved the fundraising move of ₹5,000 crore through debt instruments, according to an exchange filing.
According to BSE data, the company aims to borrow funds through corporate bonds of various categories from banks, other foreign investors, and international agencies.
“This is to inform that the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its meeting held today, i.e., Monday, March 17, 2025, interalia has approved the enhancement of Borrowing programme for FY 2024-25 by ₹5,000 Crore through Taxable Bonds/ Sub-ordinated Tier-II Bonds/Perpetual Debt Instruments (PDI) /Term loan from Banks and FI’s /Lines of credit from international agencies (multilateral and bilateral agencies)/External Commercial Borrowings (ECB)/Short term loans & WCDL from Bank,” said the company in the BSE filing.
The company also increased the borrowing limit for the financial year 2024-25 to ₹29,200 crore compared to its earlier levels of ₹24,200 crore, according to the exchange filing.
IREDA Share Price
Indian Renewable Energy Development Agency (IREDA) shares closed 1.25 per cent lower at ₹138.10 after Monday’s trading session, compared to ₹139.85 at the previous stock market close. The announcement of the fundraising was disclosed after the market operating hours on March 17.
IREDA shares have given stock market investors more than 118 per cent returns on their investment in the last five years and 3 per cent returns in the last one-year period. However, in 2025, IREDA shares are trading 38.15 per cent lower on a year-to-date (YTD) basis.
The PSU NBFC shares hit their 52-week high levels at ₹310 on July 15, 2024, while the 52-week low level was at ₹121 on March 14, 2024, as per the BSE data.
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