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The shares of Indian Renewable Energy Development Agency (IREDA) were trading at ₹231.75, down by ₹1.75 or 0.75 per cent, on the NSE at 11.52 am.
IREDA’s wholly-owned subsidiary IREDA Global Green Energy Finance IFSC Limited has received a provisional registration from the International Financial Services Centre Authority (IFSCA) to operate as a finance company in GIFT City. The announcement was made yesterday in the presence of Union Minister Prahlad Joshi and Gujarat Finance Minister Kanubhai Desai.
IREDA Chairman and Managing Director Pradip Kumar Das said the move reflected the company’s commitment to advancing green financing solutions globally. The subsidiary aims to secure competitive funding and foster collaborations with international investors.
This development follows S&P Global Ratings’ recent assignment of a ‘BBB-’ long-term and ‘A-3’ short-term issuer credit rating to IREDA, with a ‘Stable’ outlook. The rating agency noted IREDA’s position as one notch above the starting point for rating financial companies in India, reflecting continued government support.
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