Navratna PSU Stock, IREDA shares fall over by 1.65% ahead of QIP fund raise
The company's board will meet today (January 23) to approve the fundraising proposal through the QIP route.

Navratna PSU Stock, IREDA shares fall over by 1.65% ahead of QIP fund raise
Shares of the Indian Renewable Energy Development Agency fell over 2%, hitting a low of Rs 195.03 ahead of its board meeting to approve fund-raising plans through a Qualified Institutional Placement (QIP).
The company's board will meet today (January 23) to approve the fundraising proposal through the QIP route. Earlier in 2024, IREDA's board had approved raising a sum of Rs 4,500 crore by selling shares to eligible institutions.
Last year, IREDA had also approved setting up a retail subsidiary and Das mentioned that it has submitted its business plan to the Reserve Bank of India and is awaiting approval from the banking regulator on the same.
Read Also : India Shelter Reports Strong Q3FY25 Performance with 36% YoY AUM Growth and 54% Surge in PATCMD Das attributed the out of the Rs 433 crore rise in gross NPA, a significant portion came from one account that slipped into an NPA. The said account was a waste and bioenergy account. However, Das expects this number to trend downwards in the quarters ahead.
Shares of the PSU Company are trading lower by 1.6% with diluted EPS up by 14.5%.
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