Shares of Indian Renewable Energy Development Agency Ltd. were trading higher during early trade on Thursday, ahead of the release of the first-quarter financial results.
Earlier this month, the company issued its quarterly business update that showed a 29% rise in its loan book during the April-June period.
Sanctioned loans amounted to Rs 11,740 crore, compared to Rs 9,136 crore in the same period last year. Loan disbursements increased 31% year-on-year to Rs 6,981 crore.
Ireda’s outstanding loan book stood at Rs 79,960 crore, reflecting a 27% rise from the year-ago period.
Last month, the company raised Rs 2,005 crore from qualified institutional buyers like Life Insurance Corporation of India, Societe Generale, Morgan Stanley and Vikasa India EIF I Fund.
Notably, the company has not given any dividend since listing in November 2023.
