IREDA shares surge 3% on increasing borrowing limit by Rs 5,000 crore for FY25

According to the official statement, the additional borrowing will be raised through multiple instruments, including Taxable Bonds, Sub-ordinated Tier-II Bonds, Perpetual Debt Instruments (PDI), term loans from banks and financial institutions (FIs), credit lines from international agencies (multilateral and bilateral agencies), External Commercial Borrowings (ECB), short-term loans, and WCDL from banks.

“In compliance with the provision of Regulation, 30 and 51(2) read with Schedule III of SEBI (LODR) Regulation 2015, as amended, this is to inform that the Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) in its meeting held today i.e., Monday, March 17, 2025, interalia has approved the enhancement of Borrowing programme for FY 2024-25 by Rs. 5,000 Crore through Taxable Bonds/ Sub-ordinated Tier-II Bonds/Perpetual Debt Instruments (PDI) /Term loan from Banks and FI’s /Lines of credit from international agencies (multilateral and bilateral agencies) /External Commercial Borrowings (ECB)/Short term loans & WCDL from Bank,” the exchange filing stated.

Following this approval, the total borrowing limit for FY 2024-25 has been increased from Rs 24,200 crore to Rs 29,200 crore.

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IREDA share price performance

The 1-year price gain of IREDA shares stands at 7.26%, while the Year-To-Date (YTD) decline stands at 37.74%. Over the last 6 months, the price has declined by 39.36%, and in the past 3 months, it has dropped by 35.01%. The 1-month price decline has been recorded at 16.56%.On Tuesday, IREDA shares closed 1.25% lower at Rs 138.10 on the BSE.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)