Following the board’s approval of a ₹5,000 crore augmentation in the borrowing program for FY 2024-25, the share price of the Indian Renewable Energy Development Agency (IREDA) jumped as much as 3.60 percent during Tuesday’s trading session. The price of IREDA’s shares on the National shares Exchange (NSE) was ₹143.25 per share at 9:30 am.
“This is to inform that the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its meeting today, Monday, March 17, 2025, has approved the enhancement of the Borrowing program for FY 2024-25 by Rs. 5,000 Crore through Taxable Bonds/ Subordinated Tier-II Bonds/Perpetual Debt Instruments (PDI)/Term loan from Banks and FI’s/Lines of credit from international agencies (multilateral and bilateral agencies)/External Commercial Borrowings (ECB)/Short term loans & WCDL from Bank,” the exchange filing said. This is in accordance with the provisions of Regulations 30 and 51(2) read with Schedule III of SEBI (LODR) Regulation 2015, as amended.
The entire borrowing limit for the fiscal year 2024–2025 has been raised from ₹24,200 crore to ₹29,200 crore with this clearance. The business had previously declared last week that the Reserve Bank of India (RBI) had turned down its offer to purchase stock in Nepal’s 900 MW Upper Karnali Hydro Electric Power Project. For the third quarter (October–December) of the fiscal year 2024–25, IREDA reported a 27% year-over-year increase in net profit to ₹425.38 crore, and a 36% increase in operating revenue to ₹1,698.99 crore. The company’s net interest income (NII) climbed by 39% year over year to ₹622.3 crore in the quarter that ended in December 2024.