IREDA Announces ₹2,994 Crore QIP: Voting Dates, Discount, Govt Dilution Explained

New Delhi, February 12, 2026: Indian Renewable Energy Development Agency Ltd (IREDA) has initiated a postal ballot to seek shareholder approval for raising up to ₹2,994 crore through a Qualified Institutions Placement (QIP).

The fundraising proposal, approved by the Board on February 6, 2026, will be placed before shareholders as a Special Resolution through remote e-voting.

E-Voting Schedule Announced

Voting Starts: February 13, 2026 at 9:00 AM (IST)
Voting Ends: March 14, 2026 at 5:00 PM (IST)
Cut-off Date: February 6, 2026

The resolution, if approved, will be deemed passed on March 14, 2026.

The company has engaged MUFG Intime India Pvt Ltd to facilitate the remote e-voting process.

Fundraising Details

IREDA plans to raise up to ₹2,994 crore in one or more tranches via QIP in accordance with SEBI ICDR Regulations.

Key highlights of the proposal:

Issue size capped at ₹2,994 crore
May be issued at a discount of up to 5% to the QIP floor price
Allotment to Qualified Institutional Buyers (QIBs) only
Minimum 10% allocation to mutual funds
No single allottee to receive more than 50% of the issue size
Government shareholding dilution capped at 3.76% post-issue

The equity shares issued under QIP will rank pari passu with existing shares.

Purpose of Fundraising

According to the explanatory statement, the proceeds will be used for:

Strengthening IREDA’s capital base
Meeting future capital requirements
Onward lending to renewable energy projects
General corporate purposes

The move comes as IREDA continues to expand its financing footprint in India’s renewable energy sector amid strong policy support and increasing project pipelines.

Strategic Context

As a Government of India enterprise under the Ministry of New and Renewable Energy (MNRE), IREDA plays a key role in funding solar, wind, hydro, green hydrogen, and other clean energy initiatives.

The proposed capital raise is aimed at supporting business growth while maintaining government ownership control limits.

The postal ballot notice has been uploaded on the company’s website and stock exchange platforms.