Ireda eyes 30% loan growth; to raise ₹3,000 crore in second round of QIP

THE country's largest renewable energy financier Ireda is bolstering its equity capital base with a second round of QIP issue worth at least ₹3,000 crore as the state-run company sees over 30% loan growth this fiscal. It will also be raising ₹30,000 crore in debt capital.

- BENN KOCHUVEEDAN @Mumbai

The Maharatna company had raised ₹2,005 crore in the first tranche of the QIP issue, through which the government had diluted 3.2% stake. The government had approved a total of 7% dilution this fiscal. "We had raised ₹2005.9 crore through the first tranche of the qualified institutional placement last month, through which the government diluted 3.2% of its stake. Since the government mandate to the board to bring it down by 7% this fiscal, we have scope for 3.8% more dilution, whi