IREDA board to consider QIP on February 6: CNBC-TV18 Newsbreak Confirmed

Indian Renewable Energy Development Agency (IREDA) Ltd. informed the exchanges that its board will meet on Friday, February 6, to consider and approve a fund raise through the issuance of equity shares via a qualified institutions placement (QIP).

The company plans to raise up to ₹2,994 crore through the QIP, which may be executed in one or more tranches.

The proposed fund raise will be subject to shareholder approval, IREDA said in an exchange filing.

CNBC-TV18 had reported in November last year that IREDA was exploring a fund raise of up to ₹3,000 crore by selling shares to eligible institutional investors. The QIP is expected to be priced at a discount of around 5% to the current market price, sources had confirmed.

Motilal Oswal, SBI Capital Markets, IDBI Capital, and Emkay are likely to act as bankers to the issue, according to sources.

Earlier in 2025, IREDA's board had approved a QIP-based fund raise of up to ₹5,000 crore, which also received shareholder approval.

As of the end of the December quarter, the government held a 71.76% stake in IREDA.

Shares of IREDA settled 1.62% higher on Tuesday at ₹129.50. The stock is down over 7% so far in 2026.