IREDA shares in focus, Navratna PSU sets board meeting for fundraise on 23 Jan

Multi bagger RE Stock, Indian Renewable Energy Development Agency (IREDA) Limited has declared a board meeting date on 23 January 2025 to consider and approve the proposal for raising funds. The Navratna PSU set a board meeting date after receiving a proposal to raise funds through the issuance of equity shares through Qualified Institutions Placement (QIP).

Hence, after this fundraising move, IREDA's share price is expected to remain under the lead of Indian stock market investors when trading activity resumes on Monday next week.

As per the filing made, the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) is scheduled to be held on Thursday, January 23, 2025, inter alia to consider and approve the following:

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Raising of funds through the issuance of equity shares by way of a qualified institutions placement ("QIP"), under applicable laws, subject to the approval of the shareholders of the Company and any governmental/ regulatory/ statutory authorities, as may be required.

 EGM Notice for seeking approval of the Shareholders of the Company in respect of, inter alia raising of funds by way of issuance of equity shares through a QIP.

IREDA IPO was launched in November 2023 at a price band of Rs 30 to Rs 32 per equity share. IREDA share price was listed on the BSE and NSE on 29 November 2023 at a whopping of over 55%.

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Shares of the PSU Company were trading higher by 1.28% at Rs 206.80, with market capitalization standing at Rs 55.66K crore.

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