IREDA share price jumps over 2% after allotment of 50% equity to LIC in ₹2000 crore fundraise

Shares of the Indian Renewable Energy Development Agency (IREDA) surged by over 2% on Wednesday, following the announcement of the closure of its Qualified Institutional Placement (QIP) earlier that day.
The firm successfully raised ₹ 2,000 crore through this process by issuing equity to qualified institutions.
IREDA's board sanctioned the issuance of 12.14 crore equity shares of the company as part of this initiative. The issue price for the QIP has been set at ₹ 155.14 per share, which reflects a 5% discount to the established floor price of the issue.

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