IREDA to Raise Rs 5,000 Cr via QIP: Shareholder Approval

Feb 24, 2025 19:21

IREDA secures shareholder approval to raise up to Rs 5,000 crore through a Qualified Institutional Placement (QIP) to fund growth opportunities.

New Delhi, Feb 24 (PTI) State-owned IREDA has got shareholders' approval for raising up to Rs 5,000 crore through issuance of equity shares to qualified institutional buyers.

The proposal received the shareholders' nod at the 22nd Extraordinary Genera Meeting on Monday.

All the resolutions as mentioned in the notice for the EGM have been duly approved and passed by the shareholders as a special resolution with requisite majority, a BSE filing said.

As per the notice, the company anticipates growth opportunities in its existing operations and continues to evaluate various avenues, for which it requires capital.

Source: PTI

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IREDA to Raise Rs 5,000 Cr via QIP: Shareholder Approval

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