IREDA board approves QIP launch at floor price of ₹173.83 per share
By Aditya Bhagchandani Published on June 5, 2025, 20:32 IST
Indian Renewable Energy Development Agency Limited (IREDA) has officially launched its Qualified Institutional Placement (QIP) offering on June 5, 2025, following approval from its Board of Directors during a meeting held today. The company aims to raise capital by issuing equity shares of ₹10 face value each to qualified institutional buyers under Chapter VI of the SEBI ICDR Regulations and Sections 42 and 62 of the Companies Act, 2013.
The Board has approved a floor price of ₹173.83 per equity share for the QIP, determined in accordance with the pricing formula under Regulation 176(1) of SEBI ICDR Regulations. As per shareholder approval on February 24, 2025, IREDA also has the option to offer a discount of up to 5% on the floor price.
The preliminary placement document and draft application form were approved in the same meeting. The relevant date for the issue is also June 5, 2025. The final issue price will be set in consultation with the book running lead managers appointed for the QIP.
The trading window will remain closed until further notice in relation to the QIP proceedings. A copy of the preliminary placement document is available on the company's website at www.ireda.in.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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