Parliament Question: Funds Raising by IREDA

GOVERNMENT OF INDIA MINISTRY OF NEW AND RENEWABLE ENERGY LOK SABHA UNSTARRED QUESTION NO. 1659 ANSWERED ON 29.07.2026 FUNDS RAISING BY IREDA

1659. SHRI K C VENUGOPAL

Will the Minister of NEW AND RENEWABLE ENERGY be pleased to state:

(a) whether Indian Renewable Energy Development Agency (IREDA) has raised funds through Qualified Institutions Placement (QIP);

(b) if so, the details of issue price and discount offered;

(c) the details of major institutional investors including Life Insurance Corporation of India

(LIC) and others who have participated in the QIP and their respective allotments;

(d) the manner in which the raised funds would be utilized to strengthen IREDA’s capital base and support green energy financing; and

(e) whether the quick follow-up to IREDA’s Initial Public Offering (IPO) reflects strong investor confidence in India’s renewable energy sector and if so, the details of key indicators thereof? ANSWER THE MINISTER OF STATE FOR NEW & RENEWABLE ENERGY AND POWER (SHRI SHRIPAD YESSO NAIK)

(a) & (b) Yes, IREDA has raised funds ~ ₹ 2005.9 crores by issuance of fresh equity shares through Qualified Institutions Placement (QIP) route in June, 2025.

The Issue price was ₹ 165.14 per Equity share. The discount offered was ~ 5.00% on the floor price (₹173.83) amounting to ₹ 8.69 per Equity Share.

(c) All 30 investors who participated in IREDA’s QIP were allotted equity shares against their application as per the applicable regulation. The major investors (more than 5% of the QIP offerings)

to whom allotment were made are given below: % Sr. allotment Name of the Allotees No. of the Issue size Life Insurance 1 50.000 Corporation of India 2 Societe Generale - ODI 8.9821 Morgan Stanley Asia 3 9.1203

(Singapore) PTE. – ODI 4 Vikasa India EIF I Fund 5.1326(d) The funds raised through QIP issue were added to the Tier-1 capital of the Company, thereby boosting the Capital to Risk (Weighted) Assets Ratio (CRAR). The CRAR of the Company increased from 17.77% as on March 31, 2025 to 19.58% as on June 30, 2025 majorly due to increase in Tier-1 capital from the QIP raising.

As per the Objects of the Issue, the net proceeds raised from the QIP were used for onward lending towards renewable energy projects and general corporate purpose.

(e) The timing and successful execution of IREDA’s QIP after its Initial Public Offering (IPO) underscores a high level of investor confidence in the company and India’s renewable energy sector.

IREDA was listed on the stock exchanges on 29th November 2023 following an IPO that saw an overwhelming demand.

Following listing at an issue price of ₹32 per share, IREDA’s stock has shown listing gains and continued strength in the secondary market. This reflects investor’s optimism around renewable energy financing and confidence in IREDA’s financials, asset quality, growth trajectory, robust and corporate governance.

Key indicators that illustrate the robust investor sentiment include: i. The QIP was subscribed by marquee investors like LIC which reinforces the long-term institutional confidence in IREDA’s business model and sectoral growth.

ii. The participation of marquee institutional investors bolsters the credibility of the QIP. LIC’s large investment approx. ₹1,003 crore, taking 50% of the issue – signals domestic institutional confidence in IREDA’s stability and mission. Moreover, the inclusion of global financial institutions like Morgan Stanley and Societe Generale as significant allottees shows that foreign investors also view IREDA as an attractive player in India’s renewable energy financing space.

Such diverse investor interest (insurers, banks, foreign portfolio investors, etc.) reflects a broad conviction in IREDA’s creditworthiness and growth trajectory. *****