📢 IREDA Clarifies FPO Rumors: No Decision Yet, Strong Financial Growth Reported Here’s What the Management Said
🚨 Key Points:
🔹 Clarification on FPO Rumors:
* IREDA informed exchanges that reports of a proposed Follow-On Public Offer (FPO) are "incorrect."
* Recent discussions by CMD Pradip Kumar Das with reporters might have led to these speculations.
* CMD Das mentioned potential future options like a Perpetual Debt Instrument or an FPO based on business needs.
🔹 Official Statement:
* No decision on FPO has been made.
* The company will discuss the matter with the board and the Government at an appropriate time.
* As of March 31, 2024, the Government holds a 75% stake in IREDA.
🔹 Financial Performance:
* IREDA’s Assets Under Management (AUM) grew by 26.8% year-on-year to ₹59,698 crore in the March quarter.
* Quarter-on-quarter AUM growth was 18%.
🔹 Stock Market Performance:
* IREDA debuted on the stock market in November last year at ₹32 per share.
* The stock reached a record high of ₹214 within 50 days of listing.
* After a correction, the stock is now trading near its highs at ₹183.75.
* Shares rose 4.2% on Tuesday and have surged 76% in 2024.
* The stock is 15% away from its record high.
📈 Summary:
Despite recent rumors, IREDA has clarified that no decision regarding an FPO has been made. The company continues to perform strongly with significant AUM growth and a robust stock market performance. The matter of an FPO will be considered by the board and the Government in the future as needed.
📌 Stay tuned for more updates!
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