Indian Renewable Energy Development Agency Ltd. sanctioned Rs 11,740 crore loans in the first quarter of fiscal 2026, 29% rise from Rs 9,136 crore in the same period last year.
The company reported a 31% year-on-year increase in loan disbursements, reaching Rs 6,981 crore in the June quarter, up from Rs 5,326 crore during the same period in fiscal 2025.
Ireda's outstanding loan book stood at Rs 79,960 crore, reflecting a 27% rise for April-June period from Rs 63,207 crore in the year ago period.
In June, Ireda set the floor price for the share sale to institutional investors to raise funds worth Rs 5,000 crore that was conducted through qualified institutional placement. The board set the floor price of Rs 173.83 per share, offering a discount of not more than 5% on the floor price.
Shares of Ireda closed 0.37% higher at Rs 170.13 apiece on the National Stock Exchange, compared to a 0.47% fall in the benchmark Nifty. The stock has fallen 13.25% in the last 12 months and 20.96% on a year-to-date basis.
Out of the two analysts tracking the company, one has a 'buy' rating on the stock and one recommends 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential downside of 11.8%.
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