ireda

Centre Approves Listing Of IREDA On Stock Exchanges Through IPO

March 18, 2023 admin

The Cabinet Committee on Economic Affairs (CCEA) on Friday approved listing of IREDA, a CPSE under Ministry of New & Renewable Energy (MNRE), on the Stock Exchanges through an Initial Public Offer (IPO) by part sale of Government’s stake in it and to raise funds for IREDA through issue of fresh equity shares. Centre said that the Department of Investment and Public Asset Management (DIPAM) will drive this listing process. This decision supersedes earlier CCEA decision taken in June, 2017 for allowing IREDA to issue 13.90 crore fresh equity…

RBI Gives IREDA ‘Infrastructure Finance Company’ Status

March 14, 2023 admin

The Central Bank RBI on Monday announced it has granted an ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA) today. IREDA was earlier classified as ‘Investment and Credit Company (ICC)’. With the IFC status, IREDA will be able to take higher exposure in RE financing. The IFC status will also help the company to access wider investor base for fund mobilisation, resulting in competitive rates for fund raising. The recognition of IREDA as an IFC is expected to increase the investors’ confidence, enhance the brand value,…

Ireda Sanctions Highest-Ever Loan Of About Rs 24k Cr In 2021-22

April 5, 2022 admin

State-owned Indian Renewable Energy Development Agency has recorded its highest-ever loan sanction of Rs 2,3921.06 crore and disbursement of around Rs 16,070.82 crore in 2021-22. “Indian Renewable Energy Development Agency Ltd (IREDA), the largest dedicated lender of Renewable Energy in India ended FY2021-22 with its best-ever performance to date. IREDA has achieved the highest-ever loan sanctions of around Rs 23,921.06 crore and loan disbursements of around Rs 16,070.82 crore,” a company statement said. Ireda Chairman & Managing Director Pradip Kumar Das in his interaction with employees highlighted that Ireda has…

IREDA Targets Rs 2,749 Cr Revenue In 2021-22

February 15, 2022 admin

State-run Indian Renewable Energy Development Agency Ltd (IREDA) is eyeing Rs 2,749 crore revenue from operations in the ongoing financial year. IREDA has signed a Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting an annual performance target for the year 2021-22, an MNRE statement said. The MOU was signed by Indu Shekhar Chaturvedi, Secretary, MNRE and Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA on Tuesday. The government has set a target of Rs 2,749 crore revenue from operation under the ‘Excellent’ rating along with various performance-related key parameters such as return on…

IREDA, THDCIL To Collaborate For Renewable Energy Projects

December 4, 2021 admin

The Indian Renewable Energy Development Agency Ltd (IREDA) has entered into a pact with THDC India Ltd (THDCIL), under which it will provide techno-financial expertise in developing renewable energy projects. Both the entities have signed a Memorandum of Understanding (MoU) to this effect. Under the MoU, IREDA will undertake techno-financial due diligence of renewable energy and energy efficiency and conservation projects for THDCIL, a statement said. IREDA will also assist THDCIL in developing an action plan to create and acquire renewable energy projects for the next five years, the statement added. Besides, IREDA will…

IREDA Registers All-Time High Half-Yearly PAT

November 14, 2021 admin

Indian Renewable Energy Development Agency (IREDA), a PSU under the Ministry of New & Renewable Energy (MNRE) on Saturday announced audited financial results for Half-year-1 and Quarter-2FY2021-22 ending 30th September 2021. The company has posted Total Income from Operations of Rs. 684.80 crore and Profit After Tax (PAT) of Rs. 110.27 crore for Q2 FY22. The company has reported all-time high half-yearly PAT of Rs. 299.90 crore. The Board of Directors of IREDA approved the Audited Financial Results for H1 & Q2 FY 2021-22 ending 30th September 2021in a meeting…