Latest news with #IndianRenewableEnergyDevelopmentAgency
Business Upturn
a day ago
- Business
- Business Upturn
IREDA shares jump over 2% as RBI issues project finance norms for banks, NBFCs
Shares of Indian Renewable Energy Development Agency (IREDA) gained over 2% on June 20 after the Reserve Bank of India (RBI) released its final project finance guidelines, offering relief to lenders with less stringent provisioning norms compared to the earlier draft. On June 19, the RBI announced that lenders will be required to maintain a general provision of 1.25% on Commercial Real Estate (CRE) loans and 1% on Commercial Real Estate-Residential Housing (CRE-RH) and other projects during the construction phase. For the operational phase, the provisioning has been set at 1% for CRE, 0.75% for CRE-RH, and 0.40% for other projects. These norms are significantly softer than the draft proposal issued in May 2024, which had suggested a steep 5% provision for under-construction projects. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
News18
11-06-2025
- Business
- News18
IREDA QIP: Rs 2,005.90 Cr Raised Via Share Issue; LIC Leads With 50% Allocation
Last Updated: A major portion of the issue was picked up by LIC, which invested approximately Rs 1,002.95 crore for 6,07,33,280 shares, accounting for 50% of the total QIP. IREDA QIP: The board of IREDA (Indian Renewable Energy Development Agency) on Wednesday approved QIP (Qualified Institutions Placement) of Rs 2,005.90 crore. According to press release, a total of 12,14,66,562 equity shares were allotted at an issue price of Rs 165.14 per equity share, reflecting a premium of Rs 155.14 per equity above the face value of Rs 10 per equity. They are being issued at a discount of Rs 8.69 per share, given the floor price of 5 per cent. A major portion of the issue was picked up by the Life Insurance Corporation of India (LIC), which invested approximately Rs 1,002.95 crore for 6,07,33,280 shares, accounting for 50% of the total QIP. Societe Generale (ODI) followed with an investment of around Rs 180.23 crore for 1,09,10,257 shares, while Morgan Stanley Asia (Singapore) PTE acquired 1,10,76,814 shares for nearly Rs 182.89 crore. Vikasa India EIF I Fund subscribed to 62,34,433 shares, investing approximately Rs 102.95 crore. The shares were issued at a discount of Rs 8.69 per share, which is 5% below the floor price, in line with SEBI's ICDR regulations. IREDA shares traded flat at Rs 182.40 apiece at the time of writing this report. Earlier, the scrip opened at Rs 182.45 apiece, against the previous day close at Rs 182.45 apiece. The stock's 52-week high and low reflects at Rs 310 apiece and Rs 137 apiece, respectively. IREDA has a market cap of Rs 49,038 crore and is part of BSE 200. LIC shares, on the other hand, traded 0.50 per cent higher at Rs 951.45 apiece. IREDA reported a 49% increase in its standalone net profit, reaching Rs 502 crore for the March 2025 quarter, compared to Rs 337 crore in the same period last year. For the full financial year 2024-2025 (FY25), IREDA achieved a net profit of Rs 1,698.60 crore, up from Rs 1,252.24 crore in FY24, indicating a 36% growth on a YoY basis. Additionally, the overall revenue rose by 36% YoY to Rs 6,742 crore during the reviewed year, compared to Rs 4,964 crore in the previous financial year. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. About the Author Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published: June 11, 2025, 10:52 IST
Business Standard
11-06-2025
- Business
- Business Standard
Stock Alert: Popular Vehicle & Services, Kaynes Tech, Man Infra, HCL Tech
Securities in F&O Ban:Aditya Birla Fashion & Retail (ABFRL), Indian Renewable Energy Development Agency (IREDA), RBL Bank, Hindustan Copper and Chambal Fertilisers & Chemicals shares are banned from F&O trading on 11 June 2025. Stocks to Watch:Popular Vehicles and Services received a Letters of Intent (LOI) from Maruti Suzuki India to establish a new independent true value outlet for pre-owned vehicles in Bangalore, Technology Indias wholly owned subsidiary, Kaynes Semicon has entered into an asset purchase agreement with Fujitsu General Electronics (Fujitsu Electronics) to acquire production lines for power Rajs board approved the re-appointment of Amit Sarin as managing director, Aman Sarin as chief executive officer (CEO) and Ashim Sarin as chief operating officer (COO) for the five years with effect from 1 January 2026 Man Infraconstruction agreed to acquire 36.07% stake in its wholly owned subsidiary, Man Realtors and Holdings (MRHPL) at Rs 215 per share. The company holds 63.93% stake in the Technologies announced an expansion of its partnership with Standard Insurance Company to deliver AI-driven infrastructure and application services to boost efficiency, support rapid growth and enhance customer by Capital Market - Live News
Mint
11-06-2025
- Business
- Mint
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.
Time of India
09-06-2025
- Business
- Time of India
Interstate transmission: Centre allows surety bond and payment of order instruments as bid security
To bolster payment security for interstate power transmission projects, the government has introduced Payment of Order Instruments (POI) and Insurance Surety Bonds (ISB) as alternative security instruments. These measures, applicable to projects developed through tariff-based competitive bidding, aim to facilitate the evacuation of renewable energy, including 9 GW from Rajasthan and Karnataka, with significant capital expenditure allocated for transmission infrastructure. Tired of too many ads? Remove Ads The centre has reworked norms governing award of power transmission projects spanning across states by adding additional options for payment security. The Payment of Order Instruments (POI) would be invoked in the event a transmission service provider defaults. This, and an Insurance Surety Bond (ISB) have been introduced as alternative security instruments within standard bidding documents for Inter-State Transmission Service (ISTS).An office order said these measures will be applicable for transmission projects being developed through tariff based competitive bidding. The definition of bid bond has been tweaked to include Insurance Surety Bond and Payment of Order as Bank Guarantee in the standard bidding seeking to develop these projects can obtain a POI only from either Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation (PFC), or REC . A similar regime was introduced for awarding Renewable Energy (RE) projects in the country from September 2020 of transmission networks are planned to keep pace with RE capacity addition in the June 2024, the centre approved new ISTS schemes to evacuate 9 GW of renewable energy (RE) from Rajasthan and Karnataka. The power evacuation scheme of Rajasthan Renewable Energy Zone (REZ) will evacuate 4.5 GW of RE power from the state at a capital expenditure of about Rs 12,241 crore. The System strengthening scheme of Karnataka will evacuate 4.5 GW RE power from Koppal area and Gadag area at a capex of about Rs 1,354 crore.
