IREDA Stock Soars 7% After Major Rs 4,500-Crore Fundraising Announcement!
In Short IREDA's stock has seen a notable 7% rise, driven by the announcement of a potential Rs 4,500-crore fundraising initiative. This move, which includes options such as a qualified institutional placement (QIP) or a rights issue, is set to be reviewed in a board meeting scheduled for August 29. The surge reflects strong investor confidence, bolstered by IREDA's impressive 144% stock price increase this year, vastly outperforming the benchmark Nifty 50's 14% rise. IREDA, a green financing non-banking financial company (NBFC)…
By Vishal Kumar
August 22, 2024