IREDA zooms ~5% as board okays enhancement of borrowings

18 Mar 2025 , 01:01 PM

Indian Renewable Energy Development Agency Ltd (IREDA) shares are in focus as the company announced that the board of directors have approved the enhancement of the borrowing programme for the current financial year by ₹5,000 Crore.

The company informed the bourses that the enhancement is via subordinated tier II bonds, taxable bonds, term loan from banks and FI’s, lines of credit from international agencies, perpetual debt instruments, external commercial borrowings, short term loans and WCDL from the bank.

For the Financial Year 2025, the borrowing limit has been enhanced from ₹24,200 Crore to ₹29,200 Crore. 

Last week, the company also announced that the RBI has not approved its request to make an equity investment for development and implementation of 900 MW Upper Karnali Hydro Electric Power Project in Nepal.

In the quarter ended December 2024, IREDA reported Gross Non-Performing Assets (NPAs) were up by 30.40% against the previous quarter to ₹1,845.50 Crore. The company’s Net NPAs surged by 53.75% on a sequential basis to ₹1,024 Crore.

At around 1.05 PM, IREDA was trading 4.15% higher at ₹143.89, against the previous close of ₹136.16 on NSE. The counter touched an intraday high and low of ₹144.75, and ₹139.98, respectively.

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