With a total of Rs 37,354 crore in loans approved for the fiscal year that concluded on March 31, 2024, IREDA set a record for the most. This was an increase of 14.63 percent over the previous year’s Rs 32,587 crore.
The closing price of the IREDA shares the previous session was 5% higher, at Rs 149.75, when it was quoted on the NSE at 10.45am.
IREDA approved loans of Rs 23,796 crore for the quarter that ended on March 31. This is an on-year increase of 101.7 percent over the Rs 11,797 crore approved during the same quarter last year.
The amount of loans disbursed during the quarter was Rs 12,869 crore, which represents a 14% increase from Rs 11,291 crore in Q4FY23.
The IREDA board of directors accepted a plan to borrow Rs 24,200 crore for 2024–25 on March 28. According to a regulatory filing, it comprised raising through bonds, term loans, perpetual debt instruments (PDI), commercial papers, and external commercial borrowings (ECB).
When the IREDA shares were offered at 10.45 am on the NSE, their closing price was 5% higher, at Rs 149.75, during the previous session.
Loans of Rs 23,796 crore were granted by IREDA for the quarter that concluded on March 31. Compared to the Rs 11,797 crore authorised during the same quarter last year, this is an on-year growth of 101.7 percent.
During the quarter, loans of Rs 12,869 crore were disbursed, a 14% increase from Rs 11,291 crore in Q4FY23.
“As IREDA breached one of the requirements of Sebi Portfolio Concentration Norms for Equity Exchange Traded Funds (ETFs) and Index Funds related to impact cost, the committee has decided to revoke its earlier decision to include IREDA announced on February 28, 2024.”
NSE press release
IREDA shares have jumped 150 percent over the past six months, outperforming the benchmark Nifty 50 index that recorded gains of around 15 percent during the same time period.
