IREDA stock: Shares of Indian Renewable Energy Development Agency Limited (IREDA) were in focus today on Thursday. The company’s shares rose more than 17% during trading today and reached ₹289.45. This is its 52 week high price. There is a positive reason behind this rise in shares. Actually, the company has announced the earnings for the June quarter. The company also released its shareholding pattern for the June quarter. According to this, foreign portfolio investors have doubled their stake in renewable energy.
What are the details?
As of June 30, foreign portfolio investors held 2.7 per cent stake in IREDA. It has now increased to 1.36 percent in the March quarter. There has been a huge increase in the number of small shareholders during the April-June period. The total number of shareholders with registered share capital of less than ₹2 lakh increased to 22.15 lakh in the March quarter from 21.23 lakh. On the other hand, India’s domestic mutual funds have reduced their stake in the company. The mutual fund now holds 0.24% stake, up from 0.53% at the end of March. Its market cap has increased to ₹76,225.01 crore.
Big plan of company making charger for electric vehicles, share comes at ₹ 98
Company has raised Rs 1500 crore
Let us tell you that on June 21, the company announced that it has raised Rs 1500 crore by issuing bonds. This bond was subscribed 2.65 times. The bond size was Rs 500 crore with an option to place an additional bid of Rs 1,000 crore in case of oversubscription. The fund has been raised at an annual interest rate of 7.44 percent for a tenure of 10 years and two months.
condition of shares
IREDA shares have gained about 25.12 per cent in the last five trading sessions on the National Stock Exchange (NSE). This stock has climbed 55% in a month. This stock has increased by 170% in six months. During this period, this share increased from Rs 103 to the current price. This stock has gained up to 370% in a year. In a year, this share has increased from Rs 60 to the current price. Let us tell you that IREDA’s IPO came last year at Rs 32. The stock has since increased by more than 8 times its IPO price. It has almost reached around ₹300.
