Shares of Indian Renewable Energy Development Agency Ltd. (IREDA) rose by 2.57% to ₹165.04 on February 19, 2025, following the announcement that its wholly-owned subsidiary, IREDA Global Green Energy Finance IFSC Limited, has been granted a Certificate of Registration by the International Financial Services Centre Authority (IFSCA). This certificate allows the subsidiary to commence operations as a finance company in Gift City, Gujarat.
The Certificate of Registration dated February 18, 2025, marks a key milestone for the company as it expands its capabilities within the renewable energy sector. IREDA’s new subsidiary will focus on financing projects in line with India’s renewable energy goals, providing essential support for the growth of green energy. The IFSCA had previously granted provisional registration to IREDA Global Green Energy Finance IFSC on September 4, 2024, enabling it to begin its operations as a finance company.
IREDA, which operates under the Ministry of New & Renewable Energy, continues to make strides in financing renewable energy projects, contributing to the country’s vision of becoming a global leader in clean energy.
As of the latest data, IREDA’s stock has shown consistent trading volume with a market cap of ₹441.69 billion and a P/E ratio of 28.83. The day’s trading saw a high of ₹165.22 and a low of ₹157.05, reinforcing investor confidence in the company’s strategic growth and expanding business model.
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