Shares of Indian Renewable Energy Development Agency Ltd (IREDA) surged 3.5% on Monday (March 18) after the company announced that its Board of Directors has approved an additional borrowing program of ₹5,000 crore for FY 2024-25.
In a regulatory filing, IREDA stated that the funds will be raised through multiple debt instruments, including:
- Taxable Bonds
- Subordinated Tier-II Bonds
- Perpetual Debt Instruments (PDI)
- Term loans from banks and financial institutions
- Lines of credit from international agencies
- External Commercial Borrowings (ECB)
- Short-term loans & Working Capital Demand Loans (WCDL)
The move aligns with IREDA’s growth strategy to support India’s renewable energy initiatives, financing projects in solar, wind, hydro, and other clean energy sectors.
Stock Performance
- Current Price: ₹142.93
- Day’s High: ₹143.32
- Market Cap: ₹384.57 billion
- P/E Ratio: 25.06
IREDA remains a key financial institution in India’s clean energy expansion, and this borrowing plan is expected to further strengthen its lending capacity in the sector.
