IREDA Schedules Extraordinary General Meeting on February 24, 2025, to Approve Fundraising and Articles of Association Amendment

New Delhi, India – January 28, 2025: Indian Renewable Energy Development Agency Limited (IREDA) (NSE: IREDA, BSE: 544026) has announced that it will hold an Extraordinary General Meeting (EGM) on February 24, 2025, to seek shareholder approval for raising capital through equity issuance and amending the company’s Articles of Association (AoA) following its recent Navratna status upgrade.

Key Details of the EGM:​

• Meeting Date: Monday, February 24, 2025
• Time: 11:30 AM IST
• Mode: Video Conference (VC) / Other Audio-Visual Means (OAVM)
• Agenda Items: Two Special Resolutions.

Resolutions to Be Considered​

1. Approval for Fundraising via Equity Issuance
   • Objective: Raise capital through the issuance of equity shares.
   • Purpose: Strengthen financial capabilities for expansion and renewable energy investments.
2. Amendment of Articles of Association (AoA) Following Navratna Status
   • Objective: Modify IREDA’s governance structure and operational framework per Navratna guidelines.
   • Impact: Allows greater financial and administrative autonomy for business expansion and project financing.

Strategic Implications of the EGM​

• Enhanced capital structure to support IREDA’s renewable energy financing initiatives.
• Navratna status amendments will streamline governance and operational efficiency.
• Potential increase in foreign and institutional investment following capital raise.

Corporate Governance & Compliance​

This EGM aligns with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, reinforcing IREDA’s commitment to transparency and shareholder participation.

Looking Ahead​

Investors and stakeholders will closely monitor the outcome of the EGM, as the resolutions could significantly impact IREDA’s financial strategy and corporate governance structure.