India's IREDA up on govt nod for $538 mln fundraise

Indian Renewable Energy Development Agency

19/09/2024 06:08

** Shares of Indian Renewable Energy Development Agency
 INAR.NS  come off after rising as much as 4.5% to 237.50
rupees, set to snap four straight sessions of losses
    ** Indian govt approves renewables lender's 45 billion
rupees ($538 mln) fundraising via qualified institutional
placement of shares
    ** The govt, which held a 75% stake in INAR, plans to sell
up to 7% holding via fundraise     
    ** Stock up 126% YTD 


($1 = 83.6625 Indian rupees)

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))