The Indian Renewable Energy Development Agency (IREDA), a green financing non-banking financial company (NBFC), is considering raising up to Rs 4,500 crore through a Qualified Institutional Placement (QIP), right issue or other means. The company informed exchanges about this on August 21.
A board meeting will be held on Thursday, August 29, to take up the proposal for approval. The company said in a regulatory filing, raising of funds by way of equity share capital for an amount aggregating of upto Rs. 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, as may be deemed appropriate.”