IREDA Raises ₹2,005.90 Cr via QIP; LIC Dominates The Fresh Allotment
By HDFC SKY | Published at: Jun 11, 2025 09:53 AM IST
New Delhi, June 11, 2025: Indian Renewable Energy Development Agency Ltd (NSE: IREDA, BSE: 544026) has announced that it has successfully concluded its Qualified Institutions Placement (QIP), raising ₹2,005.90 crore through the allotment of over 12.14 crore equity shares at ₹165.14 per share. The move, which was aimed at raising funds for business operations and providing liquidity, was mainly dominated by the Life Insurance Corporation of India (LIC). LIC emerged as the largest bidder and acquired a significant 50% stake in the QIP issue, comprising 6.07 crore shares.
The QIP issue, which was approved by IREDA’s board on Wednesday, saw the approval of the allotment of 12,14,66,562 equity shares with a face value of ₹10 each. The issue price included a premium of ₹155.14 per share, with a 5% discount on the floor price as per SEBI ICDR norms. The QIP has been executed in accordance with Chapter VI of the SEBI ICDR Regulations, 2018, and Sections 42 and 62 of the Companies Act, 2013. Post-allotment, IREDA will file the revised shareholding pattern in accordance with Regulation 31 of the SEBI LODR Regulations, 2015.
Following the QIP, IREDA’s total paid-up equity capital has increased from ₹2,687.76 crore to ₹2,809.23 crore, along with the total number of shares rising to 280.92 crore.
Share Capital Before and After Allotment
| Particulars | Pre-Issue | Post-Issue |
|---|---|---|
| Number of Equity Shares | 2,68,77,64,706 | 2,80,92,31,268 |
| Paid-up Equity Share Capital | ₹26,87.76 crore | ₹28,09.23 crore |
QIP Details
| Item | Details |
|---|---|
| Issue Type | Qualified Institutions Placement |
| No. of Shares Allotted | 12,14,66,562 |
| Issue Price per Share | ₹165.14 |
| Premium per Share | ₹155.14 |
| Discount to Floor Price | ₹8.69 (5%) |
| Total Fund Raised | ₹2,005.90 crore |
Major Allottees: LIC Dominates
| S.No | Name of Allottee | Shares Allotted | % of QIP Issue |
|---|---|---|---|
| 1 | Life Insurance Corporation of India | 6,07,33,280 | 50.00% |
| 2 | Morgan Stanley Asia (Singapore) PTE. – ODI | 1,10,78,144 | 9.12% |
| 3 | Societe Generale – ODI | 1,09,10,257 | 8.98% |
| 4 | Vikasa India EIF I Fund | 62,34,433 | 5.13% |
Share Price Details
The shares of IREDA closed at ₹182.46, down by 0.43% or ₹0.78 on June 10th’s market session. On the other hand, the shares of LIC closed at ₹947.45, down by 1.60% or ₹15.45 at the end of the market session on June 10th. It remains to be seen how both the shares perform during the market session on June 11th.
About the Company
Indian Renewable Energy Development Agency Ltd (IREDA) is a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy. Listed on NSE and BSE, the company plays a pivotal role in financing renewable energy and energy efficiency projects across India.
REF: https://nsearchives.nseindia.com/corporate/IREDAEQ_11062025075503_SignedSEOUTCOMEBMAllotment.pdf
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