Indian Renewable Energy Development Agency Limited — Board Meeting, 23-01-2025: Outcome of Board Meeting

The Board has approved raising funds through a Qualified Institutions Placement (QIP) of equity shares, targeting up to ₹5,000 Cr. This move is aimed at financing the company’s strategic initiatives, while ensuring that the shareholding of the President of India does not dilute more than 7% post-issue. An Extraordinary General Meeting (EGM) will be convened to seek shareholder approval for this fundraise and amendments to the Articles of Association. The detailed regulatory disclosures will follow as required.