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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
IREDA shares in focus on increasing borrowing limit by Rs 5,000 crore for FY25
IREDA shares may remain in the spotlight on Tuesday, March 18, after the company’s board approved a Rs 5,000 crore enhancement in the borrowing program for FY 2024-25.
According to the official statement, the additional borrowing will be raised through multiple instruments, including Taxable Bonds, Sub-ordinated Tier-II Bonds, Perpetual Debt Instruments (PDI), term loans from banks and financial institutions (FIs), credit lines from international agencies (multilateral and bilateral agencies), External Commercial Borrowings (ECB), short-term loans, and WCDL from banks.
“In compliance with the provision of Regulation, 30 and 51(2) read with Schedule III of SEBI (LODR) Regulation 2015, as amended, this is to inform that the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its meeting held today i.e., Monday, March 17, 2025, interalia has approved the enhancement of Borrowing programme for FY 2024-25 by Rs. 5,000 Crore through Taxable Bonds/ Sub-ordinated Tier-II Bonds/Perpetual Debt Instruments (PDI) /Term loan from Banks and FI’s /Lines of credit from international agencies (multilateral and bilateral agencies) /External Commercial Borrowings (ECB)/Short term loans & WCDL from Bank,” the exchange filing stated.
Following this approval, the total borrowing limit for FY 2024-25 has been increased from Rs 24,200 crore to Rs 29,200 crore.
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