New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has claimed it has really gotten authorization from the Department of Investment and Public Asset Management (DIPAM) for growing about Rs 4500 crore with contemporary fairness concern.
The authorization was offered by DIPAM primarily based upon the referrals of a High-Level Committee The fund-raising will definitely be carried out with the Qualified Institutions Placement (QIP) path, with an supposed dilution of the Government of India’s shareholding in IREDA by as a lot as 7% on a post-issue foundation, to be carried out in a number of tranches.
The fund-raising exercise intends to reinforce IREDA’s sources base, permitting the corporate to scale its funding for renewable useful resource jobs and extra pace up India’s shift to tidy energy.
Commenting on this authorization, Shri Pradip Kumar Das, CMD, IREDA, claimed, “DIPAM approval represents a critical step forward in our expansion plans. With fresh capital infusion, we will be better positioned to support India’s ambitious renewable energy goals and continue playing a pivotal role in financing clean energy projects across the country.”
