IREDA Board Approves to Raise 4500 Crore Rs

IREDA Board Planning to Raise Around 4500 Crore Rs in multiple tranches. Recently IREDA Board Approves to Raise 4500 Crore Rs.

The Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its
meeting held today i.e., Thursday, August 29, 2024 has considered and accorded In-principle approval
for raising of funds by way of equity capital for an amount aggregating upto ₹4500 Crore in one or
more tranches through Further Public Offer (FPO) / Qualified Institutional Placement (QIP) / Right
Issue / Preferential Issue or any other permitted mode or a combination thereof in such manner and
on such terms and conditions as may be deemed appropriate, in accordance with the provisions of the
applicable Acts/Regulations/Guidelines and subject to the approval from the Govt of India and other
statutory/regulatory approvals.

Recently Company has received a long-term and short-term issuer credit rating of ‘BBB-‘ and ‘A-3’ respectively with ‘Stable’ outlook from M/s. S&P Global Ratings Limited (International Credit Rating Agency) on August 29th, 2024.