IREDA share price dips 2% as it launches QIP to raise ₹5000 crore: Here are key details
Stock Market Today: IREDA share price declined up to 2% in the morning trade on Friday The Renewable Energy firm launched a QIP to raise ₹ 5000 crore: Here are key details
As per details provided by Indian Renewable Energy Development Agency Ltd of IREDA and with reference to the meeting of Board of Directors held on January 23, 2025, followed by approval of the shareholders of the Company by way of a special resolution passed on February 24, 2025, the Board of Directors of IREDA, at its meeting held on June 5, 2025, announced details pertaining to the QIP or qualified institutional placement.
The QIP dates - The Board of IREDA authorized the opening of the proposed Issue today, i.e., on June 5, 2025, to eligible qualified institutional buyers;
Floor Price of the QIP- The approved the floor price for the Issue stands at ₹ 173.83 per Equity Share. The floor price was around 1.5% lower than the previous days closing levels of ₹ 176.50 for IREDA share price on the BSE.
IREDA QIP discount: The company may offer a discount of up to 5% on the floor price as per the approval received from the shareholder approval.
Issue Price: IREDA said that the Issue price will be determined by the Company in consultation with the book running lead managers appointed for the Issue. In the same context, the company has announced that the trading window shall remain closed for the purpose of the QIP Issue till further intimation-
IREDA share price Movement - In December 2023, IREDA share price had been listed on the stocks exchange and the share price has given Multibagger returns to investors, rising by about 7 times compared to the IPO offer price of ₹ 32. While IREDA share price had risen to highs of ₹ 310 e in July 2024, it had corrected to ₹ 137 in MArch 2025. However the IREDA share price has rebounded well thereafter
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