Latest news with #IndianRenewableEnergyDevelopmentAgency
Time of India
a day ago
- Business
- Time of India
IREDA launches Rs 5,000 crore QIP, but who really owns the stock?
IREDA has launched a QIP to raise up to Rs 5,000 crore to fund its growth, setting the floor price at Rs 172.4 per share. Indian Renewable Energy Development Agency or IREDA has launched a Qualified Institutional Placement. It aims to raise up to Rs 5,000 crore. The floor price is Rs 172.4 per share. Retail shareholders have nearly doubled since December 2023. The government remains the dominant shareholder with 75%. IREDA reported a rise in net profit in the March quarter. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Growth capital in focus IREDA Q4 earnings Tired of too many ads? Remove Ads Mixed technical picture State-run Indian Renewable Energy Development Agency (IREDA) has launched its much-anticipated Qualified Institutional Placement (QIP) to raise up to Rs 5,000 crore, as the renewable energy financier looks to fund its next phase of growth. The floor price has been set at Rs 172.4 per share, just 2.3% below Thursday's close of Rs of IREDA slipped 1.5% on Friday to Rs 173.90 on the its listing in December 2023 at Rs 32 per share, IREDA's stock has delivered a wild ride for investors. It surged nearly 10x to a high of Rs 310 before crashing below Rs 100, and has since staged a partial comeback, rising 3% in the past month, but still down about 44% from its the highs and lows, one investor group has only grown stronger: retail shareholders . In December 2023, just weeks after listing, IREDA had 13.5 lakh retail shareholders, those holding up to Rs 2 lakh in share capital, with a combined stake of 15.25%.That figure has now nearly doubled. As of June 6, retail shareholders number 26.48 lakh and control 20.25% of the domestic mutual funds have kept their distance, holding a negligible 0.23% as of the March quarter. Foreign Portfolio Investors (FPIs) held 1.75%.The government remains the dominant shareholder, owning 75% of bankers managing the issue include IDBI Capital Market Services, BNP Paribas , SBI Capital Markets, Emkay Global Financial Services , and Motilal Oswal Investment government's equity dilution through this QIP will not exceed 7%, as per the proposal approved earlier in management has consistently emphasised the need for fresh capital to keep pace with the company's expanding loan portfolio. 'The company is growing at a strong pace,' officials have said, adding that 'we had requested the government to take the QIP route to raise funds.'The QIP is expected to help the company strengthen its balance sheet and scale up lending in the renewable energy the March quarter, IREDA reported a 49% year-on-year rise in consolidated net profit to Rs 502 crore, compared to Rs 337 crore a year from operations rose 37% YoY to Rs 1,905 crore, up from Rs 1,391 crore in Q4FY24. On a sequential basis, profit after tax grew 18% from Rs 425 crore in profit for Q4FY25 stood at Rs 770 crore, up 55% from Rs 498 crore in the same quarter last NPAs for the March quarter stood at Rs 1,866 crore, compared to Rs 1,845 crore in Q3FY25 and Rs 1,411 crore in the stock is showing a neutral-to-positive setup. It is trading below four of its eight key simple moving averages — including the 5-day, 10-day, 150-day, and 200-day SMAs. The Relative Strength Index (RSI) is at 58.2, while the MACD stands at 2.4, remaining above both the centre and signal lines.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
a day ago
- Business
- Economic Times
IREDA launches Rs 5,000 crore QIP, but who really owns the stock?
State-run Indian Renewable Energy Development Agency (IREDA) has launched its much-anticipated Qualified Institutional Placement (QIP) to raise up to Rs 5,000 crore, as the renewable energy financier looks to fund its next phase of growth. The floor price has been set at Rs 172.4 per share, just 2.3% below Thursday's close of Rs 176.50. ADVERTISEMENT Shares of IREDA slipped 1.5% on Friday to Rs 173.90 on the BSE. Since its listing in December 2023 at Rs 32 per share, IREDA's stock has delivered a wild ride for investors. It surged nearly 10x to a high of Rs 310 before crashing below Rs 100, and has since staged a partial comeback, rising 3% in the past month, but still down about 44% from its peak. Through the highs and lows, one investor group has only grown stronger: retail shareholders. In December 2023, just weeks after listing, IREDA had 13.5 lakh retail shareholders, those holding up to Rs 2 lakh in share capital, with a combined stake of 15.25%.That figure has now nearly doubled. As of June 6, retail shareholders number 26.48 lakh and control 20.25% of the domestic mutual funds have kept their distance, holding a negligible 0.23% as of the March quarter. Foreign Portfolio Investors (FPIs) held 1.75%. ADVERTISEMENT The government remains the dominant shareholder, owning 75% of IREDA. Merchant bankers managing the issue include IDBI Capital Market Services, BNP Paribas, SBI Capital Markets, Emkay Global Financial Services, and Motilal Oswal Investment Advisors. ADVERTISEMENT The government's equity dilution through this QIP will not exceed 7%, as per the proposal approved earlier in January. ADVERTISEMENT IREDA's management has consistently emphasised the need for fresh capital to keep pace with the company's expanding loan portfolio. 'The company is growing at a strong pace,' officials have said, adding that 'we had requested the government to take the QIP route to raise funds.'The QIP is expected to help the company strengthen its balance sheet and scale up lending in the renewable energy sector. ADVERTISEMENT In the March quarter, IREDA reported a 49% year-on-year rise in consolidated net profit to Rs 502 crore, compared to Rs 337 crore a year from operations rose 37% YoY to Rs 1,905 crore, up from Rs 1,391 crore in Q4FY24. On a sequential basis, profit after tax grew 18% from Rs 425 crore in profit for Q4FY25 stood at Rs 770 crore, up 55% from Rs 498 crore in the same quarter last NPAs for the March quarter stood at Rs 1,866 crore, compared to Rs 1,845 crore in Q3FY25 and Rs 1,411 crore in Q4FY24. Also read | IREDA shares slip 2% as firm launches QIP to raise up to Rs 5,000 crore Technically, the stock is showing a neutral-to-positive setup. It is trading below four of its eight key simple moving averages — including the 5-day, 10-day, 150-day, and 200-day SMAs. The Relative Strength Index (RSI) is at 58.2, while the MACD stands at 2.4, remaining above both the centre and signal lines. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Business Standard
a day ago
- Business
- Business Standard
IREDA launches QIP with floor price of Rs 173.83/share
Indian Renewable Energy Development Agency informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 173.83 per equity share. The board of directors of the bank authorized and declared the opening of the issue on Thursday, 5 June 2025. The floor price of Rs 173.83 is at a discount of 1.51% to the scrips previous closing price of Rs 176.50 on the BSE. The bank may, at its discretion, offer a discount of not more than 5% on the floor price so calculated for the QIP. Indian Renewable Energy Development Agency (IREDA) is a 'Navratna' Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). IREDA is a public limited government company, established as a non-banking financial institution in 1987, engaged in promoting, developing, and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation. The companys consolidated net profit jumped 48.66% to Rs 501.55 crore on a 36.93% increase in revenue from operations to Rs 1,905.06 crore in Q4 FY25 over Q4 FY24. Shares of Indian Renewable Energy Development Agency (IREDA) shed 0.91% to Rs 174.90 on the BSE.
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Business Standard
a day ago
- Business
- Business Standard
Ireda share price slips 2% after company launches ₹5,000 crore QIP
Indian Renewable Energy Development Agency (Ireda) share price slipped 2.3 per cent in trade on Friday, June 6, 2025, logging a day's low at ₹172.4 per share on BSE. The selling pressure on the counter came a day after the company's qualified institutional placement (QIP) was launched. At 9:46 AM, Ireda shares were trading 1.44 per cent lower at ₹173.95 per share on the BSE. In comparison, the BSE Sensex was down 0.28 per cent at 81,210.85. The market capitalisation of the company stood at ₹46,713.35 crore. The 52-week high of the stock was at ₹310 per share and the 52-week low of the stock was at ₹137 per share. In the past one year, Ireda shares have lost 1 per cent as compared to Sensex's rise of around 8 per cent. Ireda QIP launch On Thursday, after market hours, the company launched its ₹5,000 crore QIP. The floor price for the same was fixed at ₹173.83 per share which translated to a 1.5 per cent discount from the previous close of ₹176.5 per share. "We further wish to inform you that the 'Relevant Date' for the purpose of the QIP, in terms of Regulation 171(b)(i) of the SEBI ICDR Regulations, is June 5, 2025; and accordingly, the Floor Price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 176(1) of the Sebi ICDR Regulations, is ₹173.83 per Equity Share. Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and special resolution of the Shareholders dated February 24, 2025, the company may offer a discount of not more than 5 per cent (five percent) on the Floor Price so calculated for the QIP," the filing read. In a board meeting on January 23, 2025, the fundraising up to ₹5,000 crore through QIP was approved. "The raising of funds by issue of equity shares through a qualified institutions placement (QIP), in one or more tranches, under applicable laws, for an amount aggregating up to ₹5,000 Crore (Rupees Five Thousand Crore only) or an equivalent amount thereof (inclusive of such premium as may be fixed on such equity shares), provided the shareholding of the President of India," the filing read. About Ireda Ireda is a 'Navratna' Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). The company is engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.
Economic Times
a day ago
- Business
- Economic Times
IREDA shares in focus as firm launches QIP to raise up to Rs 5,000 crore
The PSU's board has also approved the preliminary placement document and draft application form related to the QIP. Indian Renewable Energy Development Agency (IREDA) has launched a QIP to raise up to Rs 5,000 crore. The board has set the floor price at Rs 173.83 per share with a possible 5% discount. IREDA posted strong Q4 earnings with a 49% rise in net profit and continues to attract positive analyst attention despite a mixed yearly performance. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads IREDA Q4 earnings IREDA share price target and performance Tired of too many ads? Remove Ads Shares of state-owned Indian Renewable Energy Development Agency (IREDA) will be in focus on Friday after the company launched a qualified institutional placement (QIP) to raise up to Rs 5,000 crore on Thursday board has fixed the floor price for the QIP at Rs 173.83 per equity share, as per a stock exchange filing on Thursday. The company may offer a discount of up to 5% on the floor board also approved the preliminary placement document and draft application form related to the bankers managing the issue include IDBI Capital Market Services, BNP Paribas , SBI Capital Markets, Emkay Global Financial Services , and Motilal Oswal Investment government's equity dilution through this QIP will not exceed 7%, as per the proposal approved earlier in the March quarter, IREDA reported a 49% year-on-year rise in consolidated net profit to Rs 502 crore, compared to Rs 337 crore a year from operations rose 37% YoY to Rs 1,905 crore, up from Rs 1,391 crore in Q4FY24. On a sequential basis, profit after tax grew 18% from Rs 425 crore in profit for Q4FY25 stood at Rs 770 crore, up 55% from Rs 498 crore in the same quarter last NPAs for the March quarter stood at Rs 1,866 crore, compared to Rs 1,845 crore in Q3FY25 and Rs 1,411 crore in to Trendlyne, the average target price for IREDA is Rs 173, suggesting a potential downside of around 2% from current levels. Of the two analysts covering the stock, the consensus rating is 'Buy'.IREDA shares closed 1.5% higher at Rs 176.5 on the BSE in the previous session, outperforming the Sensex's 0.55% gain. While the stock has risen 2% over the past year, it is down 20% year-to-date.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
