Indian Renewable Energy Development Agency (IREDA) is gearing up for a bold fundraising move, aiming to secure ₹5,000 crore through a qualified institutions placement (QIP) in multiple tranches. The Navratna PSU announced its board’s green light for the plan on January 23, with a condition: the President of India’s stake—managed via the Ministry of New and Renewable Energy—mustn’t dip by more than 7% post-issue. Financially, IREDA’s momentum looks solid. The company’s Q3FY25 net profit jumped 27% YoY to ₹425.38 crore, while revenue surged 35.6% to ₹1,698.45 crore. Its net interest income (NII) also soared, climbing 39% to ₹622.3 crore. IREDA sanctioned ₹31,087 crore worth of loans in the quarter—a 129% leap from last year—and disbursed ₹17,236 crore, up 41% YoY. Its loan book has now ballooned to ₹69,000 crore, marking a 36% YoY growth. Investors, however, have had a mixed year with the stock. From a low of ₹121 in March to a peak of ₹310 in July, IREDA shares have seen wild swings. Currently, the stock trades 35% below its high but still holds a 66% gain from its low.