IREDA Shares Surge as Board Considers Rs 4,500 Crore Fundraising Plan

Shares of Indian Renewable Energy Development Agency Ltd (IREDA) surged over 10% after the company announced its board would consider a proposal to raise up to Rs 4,500 crore through share issuance. The funds will be raised in tranches, aiding India's renewable energy goals.

Shares of Indian Renewable Energy Development Agency Ltd (IREDA) surged over 10 per cent on Thursday following the company's announcement of a potential Rs 4,500 crore fundraising plan.

On the NSE, IREDA's stock price jumped 10.19 per cent to Rs 263.30, while on the BSE, it rallied 10.07 per cent to Rs 262.95.

This fundraising effort is crucial for India to meet its goal of having 500 GW of renewable energy by 2030. IREDA's board will consider the proposal in its upcoming meeting on August 29.

(With inputs from agencies.)