During the quarter gone by, IREDA also raised ₹2,000 crore by selling shares to eligible institutions through the QIP process. Shares were sold to LIC, Societe Generale, Morgan Stanley and Vikasa India EIF I Fund. Post the QIP, the government owns a 71.76% stake in the company.
The loans sanctioned by the company during the quarter increased by 29% on a year-on-year basis to ₹11,740 crore, in comparison to the ₹9,136 crore it had sanctioned during the same quarter last year.
Disbursements of loans increased by 31% from the year-ago quarter to ₹6,981 crore. IREDA had disbursed loans worth ₹5,326 crore in the base quarter.
As a result of this, the renewable energy financier's loan book outstanding at the end of the June quarter, stood at ₹79,960 crore, implying a 27% growth from last year. At the end of the March quarter, IREDA's loan book outstanding was ₹76,250 crore.
IREDA has been in the news recently after it has launched insolvency proceedings against Gensol Engineering and its subsidiaries. Last month, the Ahmedabad bench of the National Company Law Tribunal (NCLT), admitted Gensol's corporate insolvency resolution petition against Gensol EV Lease Ltd., a subsidiary of Gensol Engineering, over a default worth ₹218.95 crore.
During the quarter gone by, IREDA also raised ₹2,000 crore by selling shares to eligible institutions through the QIP process. Shares were sold to LIC, Societe Generale, Morgan Stanley and Vikasa India EIF I Fund. Post the QIP, the government owns a 71.76% stake in the company.
IREDA's shares have had a forgettable first half of 2025, having declined nearly 25%. The stock is also down over 45% from its all-time high level of ₹310.
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