IREDA share price jumps nearly 4% after board approves increasing borrowing limit by ₹5,000 crore for FY25

Indian Renewable Energy Development Agency (IREDA) share price surged as much as 3.60 per cent in Tuesday's trading session after the board approved a ₹5,000 crore enhancement in the borrowing program for FY 2024-25.

At 9:30 am, IREDA stock was trading at ₹143.25 apiece on the National Stock Exchange (NSE).

IREDA's borrowing program details

“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.

With this approval, the total borrowing limit for the fiscal year 2024-25 has been increased from ₹24,200 crore to ₹29,200 crore.

Last week, the company had announced that the Reserve Bank of India (RBI) declined its request to invest equity in Nepal's 900 MW Upper Karnali Hydro Electric Power Project.

IREDA reported a 27 per cent year-on-year rise in net profit to ₹425.38 crore for the third quarter (October-December) of the fiscal year 2024-25, along with a 36 per cent increase in revenue from operations to ₹1,698.99 crore.

During the quarter ending December 2024, the company's net interest income (NII) increased by 39 per cent year-over-year, reaching ₹622.3 crore.

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