IREDA, India's renewable energy agency, approves Rs 5,000 crore fundraising for green projects.

The board of IREDA, India's renewable energy development agency, has approved raising up to Rs 5,000 crore through a qualified institutional placement (QIP) to support green energy projects. This is the second such fundraising effort in six months, with the previous one set at Rs 4,500 crore. Despite a recent decline in its stock value, IREDA reported a 27% increase in net profit and a 35.6% rise in revenue in Q3 FY25. The funds will help scale up clean energy initiatives in the country.

2 months ago
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