IREDA Share Price | This PSU stock will run for profit, big news has come, investment opportunity – Hindi News
IREDA Share Price | The central government has taken an important decision regarding the Indian Renewable Energy Development Agency. The central government is in the process of selling the government's stake in IREDA. It has been approved by the Department of Public Sector Investment and Public Wealth Management. The central government will sell 7 percent stake in the company through QIP or Qualified Institutional Placement. Till June 30, 2024, the central government had 75 percent stake in IREDA. (Indian Renewable Energy Development Agency Limited Company Excerpts )
This information came to light after the stock market closed on Wednesday, September 18. IREDA stock remained stable at Rs 227.50 on Wednesday in the BSE stock market. IREDA stock closed 1.27 per cent higher at Rs 230 on Thursday. On Tuesday (September 24, 2024), the stock was trading 0.85% lower at Rs 228. On Wednesday, IREDA shares saw a turnover of Rs 48.08 crore as 20.93 lakh shares were traded on BSE. The stock hit a low of Rs 49.99 on November 29, 2023 and touched a high of Rs 310 on July 15, 2024. DIPAM has approved the recommendations of the high-level committee sent by IRDAI on September 18 for raising capital, a source said. Accordingly, the Government of India's stake in IREDA has been allowed to be reduced to the extent of 7 per cent on a post-issue basis in one or more stages through qualified institutional placement. On August 29, IREDA had allowed raising Rs 4,500 crore in one or more stages through FPO or QIP or pre-financial issue or any other means. Now after the approval of DIPAM, the company will be able to raise funds up to Rs 4,500 crore.
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