Know where the company will use the money raised from QIP
The Board of Directors of public sector company IREDA has approved the plan to raise up to Rs 5,000 crore through QIP. IREDA, a company under the Ministry of New and Renewable Energy, has informed this in an exchange filing to the stock market. The company said that the Board of Directors, in an important meeting held on Thursday, has approved the plan to raise money in one or more installments. But it has also been said that the government’s stake should not decrease by more than 7 percent in the total ‘equity share’ capital of the company.
Where will the company use the money raised from QIP?
The company said in a statement that the financial resources it is raising will be used to meet the growing financial needs for green energy. Pradeep Kumar Das, Chairman and Managing Director, IREDA, said, “This initiative to raise funds through QIP reflects IREDA’s strong commitment to strengthening India’s renewable energy ecosystem. It enables us to enhance financial support for clean energy projects. And will enable us to further strengthen our leadership in this sector.”
There was a decline in the company’s shares on Thursday
Let us tell you that on Thursday, IREDA shares once again witnessed a decline. Today the company’s shares closed at Rs 196.85, down Rs 3.45 (1.72 per cent) on BSE. The company’s shares, which closed at Rs 200.30 on Wednesday, opened with a decline today at Rs 199.00. During trading on Thursday, the company’s shares ranged from an intraday high of Rs 201.70 to an intraday low of Rs 194.95. 52 week high of IREDA shares is Rs 310.00 and 52 week low is Rs 121.00. The current market cap of the company is Rs 52,908.65 crore.
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