Big news is coming regarding Indian Renewable Energy Development Agency (IREDA). The company has made an announcement regarding the board meeting. The effect of which can be seen on the stock.
The company has announced the date of a board meeting on January 23, 2025, in which the proposal to raise funds will be considered and approved. The Navratna PSU company has fixed the date of this board meeting after receiving the proposal which talks about raising funds through Qualified Institution Placement (QIP) through equity shares. Therefore, after this funding, it is expected that the share price of IREDA will be led by the investors of the Indian stock market, big action can be seen on Monday next week.
IREDA has informed the Indian stock market exchanges that it said, “It is informed that a meeting of the Board of Directors of the Company has been scheduled on Thursday, January 23, 2025, at which the following will be considered and decided: 1 ]To raise funds by issuing equity shares through Qualified Institution Placement (QIP), as per applicable laws, subject to the approval of the shareholders of the company and any government/regulatory/legal authorities, as required. 2]EGM notice for obtaining approval from the shareholders of the company to raise funds by issuing equity shares through QIP.
The PSU said that in accordance with the Securities and Exchange Board of India (SEBI) (Prohibition of Insider Trading) Regulations, 2015 and as per company policy, the ‘trading window’ for transactions in securities of the company will be closed from January 18, 2025. And will be reopened 48 hours after the conclusion of the board meeting.
IREDA Share History
IREDA IPO is one of the most profitable IPOs conducted in recent years in the Indian stock market. The IREDA IPO was launched in November 2023 in the price range of ₹30 to ₹32 per equity share. IREDA shares were listed on BSE and NSE on November 29, 2023 with a surge of over 55 percent. However, the bull run did not end here. The Navratna stock caught the attention of bulls and touched a record high of ₹310 per share on the NSE on July 12, 2024, surging over 850 per cent in less than 8 months after the stock was listed.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.