IREDA share price rally 6% on strong Q3FY25 business update; details here

IREDA share price: Indian Renewable Energy Development Agency Limited (IREDA) shares were in demand on the first trading day of 2025 (January 1), as the scrip rallied up to 5.83 per cent to hit an intraday high of Rs 227.70 per share. 

  The rise in the IREDA share price came after the company posted a strong set of numbers in the December quarter of the financial year 2025 (Q3FY25) business update.

  The loan sanctioned zoomed 129 per cent year-on-year (Y-o-Y) to Rs 31,087 crore, as opposed to Rs 13,558 crore in the same quarter previous fiscal year (Q3FY24).

 

  The loan disbursements popped 41 per cent Y-o-Y to Rs 17,236 crore in Q3FY25, from Rs 12,220 crore in Q3FY24, IREDA said. 

  The loan book O/s at the end stood at Rs 69,000 crore in Q3FY25, up 36 per cent annually from Rs 50,580 crore in Q3FY24.

  About IREDA 

Established in 1987, IREDA is a public sector enterprise. It operates under the ownership of the Government of India and falls under the administrative oversight of the Ministry of New and Renewable Energy (MNRE).  

IREDA's primary mission is to promote and facilitate the development of projects related to renewable energy sources and energy efficiency. 

  As a Non-Banking Financial Institution (NBFC) and a Mini Ratna (Category – I) enterprise, it plays a crucial role in providing financial assistance and other essential services to support the growth of green power capacity. 

  Additionally, IREDA finances the establishment of solar manufacturing units and encourages the adoption of renewable energy to foster sustainable development.

  IREDA IPO listing  

In November 2023, IREDA conducted an initial public offering (IPO) and got listed on the NSE and BSE, marking a major milestone. IREDA stock listed at Rs 50 on BSE, a premium of 56.25 per cent over the IPO issue price of Rs 32.

  The market capitalisation of IREDA is Rs 59,990.91 , according to BSE. The company falls under the BSE 200 category.

  At 9:35 AM, IREDA shares were trading 3.76 per cent higher at Rs 223.25. By comparison, BSE Sensex was 0.09 per cent lower at 78,071.15 levels.