Indian Renewable Energy Dev Agency Ltd (NSE: IREDA) Share: The share of Indian Renewable Energy Development Agency (IREDA) is under scrutiny in trading today.
The company recently informed the market that it had earned an “Excellent” grade in the 4th consecutive year for the performance of its MOU.
Additionally, the company plans to announce the results of the quarter that ended between October and December.
Company’s Business Update
On January 1st, the company provided an update on its business. The distribution of loans by IREDA increased by 41 percent to Rs 17,236 crore in the quarter ending December.
According to the company statement, IREDA sanctioned loans worth Rs 31,087 crore in the third quarter (September-December), showing a growth of 129 percent year-on-year as compared to Rs 13,558 crore in the same period last year.
The company statement stated that loan disbursements also saw significant growth, which increased by 41 percent to Rs 17,236 crore, up from Rs 12,220 crore during the same period the previous year.
The book of loans outstanding grew by 36 percent and reached the figure of Rs 69,000 crore as of the end of December 2024 which was compared to the Rs 50,580 crore of last year.
The IPO Came At Rs 32
The share of the company climbed by 115 percent during the past year. At this time its price went up from Rs 103 to its current price.
The IREDA’s IPO took place in November 2023. Its price band was set at 32 rupees. The stock has increased to around 610 percent from the IPO price as of now.
Quick Fact
Indian Renewable Energy Development Agency (IREDA)
| Company name | IREDA |
|---|---|
| MOU performance grade | Excellent |
| Consecutive years with grade | 4 years |
| Loan disbursements growth | 41% |
| Disbursement amount (Q3 2024) | ₹17,236 crore |
| Previous year’s disbursement | ₹12,220 crore |
| Loan sanction growth (Q3 2024) | 129% |
| Loan sanction amount (Q3 2024) | ₹31,087 crore |
| Previous year’s loan sanction | ₹13,558 crore |
| Loan book growth | 36% |
| Outstanding loan book (Dec 2024) | ₹69,000 crore |
| Previous year’s loan book | ₹50,580 crore |
| Past year’s stock growth | 115% |
| IPO date | November 2023 |
| IPO price band | ₹32 |
| Increase from IPO price | 610% |
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