Latest news with #IndianRenewableEnergyDevelopmentAgencyLimited
Business Upturn
3 days ago
- Business
- Business Upturn
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 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.
Mint
22-05-2025
- Business
- Mint
Gensol Engineering share price hits lower circuit as IREDA moves to debt recovery tribunal for ₹510 crore claim
Stock Market Today: Gensol Engineering share price hit lower circuit in the morning trades on the NSE on Thursday. The reason for the decline in Gensol Engineering share price was that IREDA or Indian Renewable Energy Development Agency Limited announced moving to debt recovery tribunal for ₹ 510 crore claim Indian Renewable Energy Development Agency Limited or IREDA intimated the National Stock Exchange of India and the BSE or the Bombay Stock Exchange on Wednesday 21 May 2025 post market hours about Filing of Application before Hon'ble Debt Recovery Tribunal, Delhi against M/s Gensol Engineering Limited and M/s Gensol EV Lease Pvt Limited As per its release by Indian Renewable Energy Development Agency Limited or IREDA and referring to their earlier letter dated 14.05.2025 and 16.05.2025 with respect to M/s Gensol Engineering Limited and M/s Gensol EV Lease Pvt Limited respectively, intimated about its fresh Debt recovery intiatives against Gensol. Indian Renewable Energy Development Agency Limited or IREDA informed that the Company has filed an Original Application under Section 19 of The Recovery of Debts and Bankruptcy Act, 1993 before Hon'ble Debt Recovery Tribunal Delhi on 20.05.2025 for a default amount of Rs. 510,00,52,672/- (Rupees Five Hundred Ten Crore and Fifty Two Thousand Six Hundred and Seventy Two Only) and Rs. 218.95 Crore (Rupees Two Hundred and Eighteen Crore Ninety Five Lakh Only) against M/s Gensol Engineering Limited and M/s Gensol EV Lease Pvt Limited respectively. Gensol Engineering share price opened at ₹ 68.30 on the NSE on Thursday. Gensol Engineering share price had opened much lower than the previous days closing price of ₹ 69.70 Notably the opening price of Gensol Engineering share price of ₹ 68.30 on Thursday was also the lower price band for Gensol Engineering share price. Hence the Gensol Engineering share price hit lower circuit at the time of opening on Thursday
Mint
22-05-2025
- Business
- Mint
Gensol Engineering share price hits lower circuit as IREDA moves to debt recovery tribunal for ₹510 crore claim
Stock Market Today: Gensol Engineering share price hit lower circuit in the morning trades on the NSE on Thursday. The reason for the decline in Gensol Engineering share price was that IREDA or Indian Renewable Energy Development Agency Limited announced moving to debt recovery tribunal for ₹ 510 crore claim Indian Renewable Energy Development Agency Limited or IREDA intimated the National Stock Exchange of India and the BSE or the Bombay Stock Exchange on Wednesday 21 May 2025 post market hours about Filing of Application before Hon'ble Debt Recovery Tribunal, Delhi against M/s Gensol Engineering Limited and M/s Gensol EV Lease Pvt Limited As per its release by Indian Renewable Energy Development Agency Limited or IREDA and referring to their earlier letter dated 14.05.2025 and 16.05.2025 with respect to M/s Gensol Engineering Limited and M/s Gensol EV Lease Pvt Limited respectively, intimated about its fresh Debt recovery intiatives against Gensol. Indian Renewable Energy Development Agency Limited or IREDA informed that the Company has filed an Original Application under Section 19 of The Recovery of Debts and Bankruptcy Act, 1993 before Hon'ble Debt Recovery Tribunal Delhi on 20.05.2025 for a default amount of Rs. 510,00,52,672/- (Rupees Five Hundred Ten Crore and Fifty Two Thousand Six Hundred and Seventy Two Only) and Rs. 218.95 Crore (Rupees Two Hundred and Eighteen Crore Ninety Five Lakh Only) against M/s Gensol Engineering Limited and M/s Gensol EV Lease Pvt Limited respectively. Gensol Engineering share price opened at ₹ 68.30 on the NSE on Thursday. Gensol Engineering share price had opened much lower than the previous days closing price of ₹ 69.70 Notably the opening price of Gensol Engineering share price of ₹ 68.30 on Thursday was also the lower price band for Gensol Engineering share price. Hence the Gensol Engineering share price hit lower circuit at the time of opening on Thursday Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
