IREDA’s share price fell 2% to a low of Rs 166.55 on Wednesday after the recent 8% surge over 5 trading sessions. The company’s board approved plans to borrow Rs 30,800 crore for FY25-26. The company will raise money through different financial instruments like taxable bonds, green taxable bonds, sub-ordinated tier-II bonds, perpetual debt instruments, public & private placement of tax-free bonds, capital gains tax bonds, etc.
This is to inform that the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its meeting held today i.e., Tuesday, March 25, 2025,inter-alia, has approved the Borrowing programme up to Rs 30,800 crore for the FY 2025-26. The Borrowing includes fundraising through Green Masala Bonds/ Green Foreign currency bonds (USD/EUR/JPY)/ Foreign currency bonds (USD/EUR/JPY)/ External Commercial Borrowings (ECB-TL & Bonds), and many other instruments for raising foreign currency borrowings / Rupee denominated foreign currency borrowings,” said the company in an exchange filing.
ALSO READMega order buzz: This Rs 12,000 crore market cap company bags Rs 10,800 crore order from BSNL
Apart from that, the company raised Rs 910.37 crore through the issuance of Privately Placed Subordinated Tier-II Bonds for a 10-year tenor at an annual coupon rate of 7.74%.
“The successful raising of Tier-II capital reflects investors’ strong confidence in IREDA’s financial strength and strategic vision. This will further empower us to accelerate green energy financing, aligning with the Government of India’s target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030,” Shri Pradip Kumar Das, Chairman and Managing Director, IREDA said.
IREDA Q3 result
The company reported a net profit of Rs 425.38 crore, a jump of 27% year-on-year in the October-December quarter of the financial year 2024-25, compared to the net profit of Rs 335.53 crore reported in the same period a year ago. Its total revenue from operations stood at Rs 1,698.45 crore for Q3 FY25, which was up 35.6% YoY from Rs 1,252.85 crore posted in the corresponding quarter of the last financial year.
ALSO READSML Isuzu shares surge over 2%: More suitors for Sumitomo stake buy? IREDA share price
The share price of IREDA has given a return of 8% in the last five trading days. The stock has risen 2% in the past one month but has fallen 24% in the last six months.
» Read More
