IREDA shares in focus after board approval for ₹2,994 crore QIP

Shares of Indian Renewable Energy Development Agency Ltd. (IREDA) are in focus on Monday, February 9, as its board approved raising ₹2,994 crore via qualified institutional placement (QIP)

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The fundraise is subject to the Centre’s shareholding not diluting by more than 3.76% post-issue.

In June 2025, the company had raised ₹2,005.9 crore via QIP, compared to the base issue of ₹1,500 crore, at a price of ₹165.14 apiece.

Its stock is now at ₹130 apiece, down 22% from its last QIP issue price. At current levels, IREDA is trading at around 3.3 times price-to-book, compared with 4.5 times during its previous QIP in June 2025.

The Centre's shareholding had reduced from 75% to 71.76% after the previous fund raise. A successful QIP will bring the Centre's holding to 68%, assuming a 3.76% dilution.

The company's current capital to risk-weighted assets ratio (CRAR) is at 19.54% compared to 17.7% in the fourth quarter of the financial year 2025. Additional capital may boost CRAR ratio by 200 basis points.

IREDA's loan book growth was up 31% in the third quarter of FY26 at 87,975 crore from 68,960 crore in the year-ago period.

IREDA shares ended the previous session 1% lower at ₹128.69 apiece. The stock has declined 30.2% in the past year.

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