New Delhi: The Board of Directors of Indian Renewable Energy Development Agency (IREDA) Limited today approved a major fundraising initiative to strengthen its capital base and expand its renewable energy financing portfolio.
In a meeting held on February 6, 2026, IREDA’s Board cleared the issuance of equity shares through a Qualified Institutions Placement (QIP) for an aggregate amount of up to ₹2,994 crore. The move is part of the company’s strategic plan to scale up investment in renewable energy projects across India.
The issuance will be executed in one or more tranches, with the condition that the Government of India’s stake, represented by the Ministry of New and Renewable Energy, will not dilute beyond 3.76% post-issue. The proposal remains subject to shareholder approval and other regulatory clearances.
To facilitate shareholder consent, IREDA has also approved the Notice of Postal Ballot, with February 6, 2026, set as the cutoff date for e-voting rights. The postal ballot notice will be submitted separately to stock exchanges.
Key Highlights of the Fundraising:
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Type of Securities: Equity shares
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Mode of Issuance: Qualified Institutions Placement (QIP)
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Total Amount: Up to ₹2,994 crore
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Government Stake: Dilution capped at 3.76% of post-issue equity
This development marks a significant step for IREDA, the nodal agency under the Ministry of New and Renewable Energy, as it seeks to accelerate India’s transition to clean energy by boosting financial support for renewable projects.
The Board meeting commenced at 5:00 PM and concluded at 6:20 PM. The official notice and details are also available on IREDA’s website at www.ireda.in.
About IREDA:
IREDA is a Government of India enterprise under the Ministry of New and Renewable Energy, focused on promoting, developing, and extending financial support for renewable energy and energy efficiency projects in India.