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IREDA Secures Shareholder Approval for INR 5,000 Crore QIP to Boost Green Financing

Market & Finance

Feb 26, 2025

Indian Renewable Energy Development Agency (IREDA) shareholders have approved a Qualified Institutions Placement (QIP) of up to INR 5,000 crore, supporting green financing and India’s clean energy goals. The fundraising, approved during IREDA’s 22nd ExtraOrdinary General Meeting (EGM) on February 24, 2025, will involve the dilution of the Government of India’s stake by up to 7% in one or multiple tranches.

Strengthening Green Financing and Growth

IREDA’s Chairman and Managing Director (CMD), Pradip Kumar Das, emphasized that the QIP proceeds will strengthen the company’s green lending capabilities, accelerate loan book growth, and contribute to India’s clean energy transition. The company’s loan book reached INR 68,960 crore in the first nine months of FY 2024-25, with loan sanctions of INR 31,087 crore and disbursements of INR 17,236 crore.

Das also highlighted a key milestone: IREDA Global Green Energy Finance IFSC Ltd., a wholly-owned subsidiary, has received registration from the International Financial Services Centre Authority (IFSCA), enabling it to commence foreign currency lending at GIFT City, Gujarat. This will help reduce hedging risks and enhance IREDA’s global financing capabilities.

Expanding Strategic Flexibility

Shareholders also approved amendments to IREDA’s Articles of Association, granting the company the ability to:

  • Form joint ventures and subsidiaries in India and abroad.
  • Exercise enhanced powers under ‘Navratna’ status, in alignment with government guidelines.

The successful approval of IREDA’s INR 5,000 crore QIP marks a significant step in scaling India’s renewable energy financing framework. With robust financial performance and global expansion efforts, IREDA is well-positioned to drive large-scale investments in green infrastructure while strengthening its role as a key player in India’s clean energy transition.