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IREDA board to consider raising up to Rs 4,500 cr next week
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will consider a proposal to raise up to Rs 4,500 crore through issuance of shares in its meeting on August 29. The funds would be raised in one or more tranches through Further Public Offer (FPO) / Qualified Institutional Placement (QIP) / Right Issue / Preferential Issue or any other permitted mode or combination, subject to the statutory or government approval, a BSE filing said.
IREDA, under Ministry of New & Renewable Energy, is engaged in providing finance to mainly renewable energy projects.
The fundraising assumes significance as India has an ambitious target of having 500GW renewable energy by 2030 and needs to add about 50GW capacity per annum to achieve the goal.
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Read more on economictimes.indiatimes.com
About this in other media
Brigade Enterprises raises Rs 1,500 cr by selling shares via QIP economictimes.indiatimes.com /3 months ago
Delhi: President delegates LG power to constitute any authority or statutory body, appoint members to boards economictimes.indiatimes.com /3 months ago
QIP route sees heavy traffic of listed cos headed for raising fresh capital economictimes.indiatimes.com /3 months ago
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