IREDA has announced significant organizational changes following a Board of Directors meeting held on March 02, 2026. The restructuring involves key management personnel designations and senior management changes as part of the company's evolving organizational structure.

Key Management Personnel Changes

The Board of Directors, acting on recommendations from the Nomination and Remuneration Committee, has designated Shri Tusar Kant Parida as a Key Managerial Personnel of the company effective March 02, 2026. Parida, who serves as Executive Director (F&A) and Head of Resource Group (including ALM), replaces Shri Amit Goel in this capacity.

Shri Tusar Kant Parida brings substantial experience to his enhanced role, holding a Bachelor's degree in Commerce (Honours) from Utkal University and membership in the Institute of Chartered Accountants of India. He possesses over 24 years of professional experience and currently works as Executive Director (F&A) at IREDA.

Role Transition and Continuity

Shri Amit Goel, while stepping down as Key Managerial Personnel, will continue serving the organization in a strategic capacity. He has been appointed to head the "Business Development & Corporate Strategy Group" and will maintain his status as Senior Management Personnel of the company.

Senior Management Personnel Changes

As part of the organizational restructuring, six individuals ceased to be Senior Management Personnel effective March 02, 2026, pursuant to the company's "Policy on Diversity of the Board; Criteria for appointing Senior Management Personnel (SMP); Remuneration to Directors, Key Managerial Personnels (KMPs) & Other Employees and Criteria for Evaluation of Directors."

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was communicated to both the National Stock Exchange of India Limited and BSE Limited, ensuring full regulatory compliance for the organizational changes.

These structural modifications reflect IREDA's ongoing efforts to optimize its organizational framework and align management responsibilities with strategic objectives in the renewable energy sector.

IREDA has announced a postal ballot notice for seeking shareholder approval to raise capital through equity shares issuance worth up to ₹2,994 crore. The company issued the notice on February 12, 2026, under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Capital Raising Details

The proposed capital raising will be executed through a qualified institutions placement (QIP) in accordance with Chapter VI of SEBI ICDR Regulations. The funds will be raised from eligible qualified institutional buyers (QIBs) as defined under applicable regulations.

E-Voting Schedule and Process

The company has adopted a remote e-voting mechanism for the postal ballot process, engaging MUFG Intime India Private Limited as the registrar and e-voting service provider. M/s P.C. Jain & Co., Company Secretaries has been appointed as the scrutinizer for conducting the postal ballot process.

Purpose and Strategic Rationale

The company has outlined its growth-oriented approach in the explanatory statement, citing anticipated opportunities in existing operations and the need for additional capital. The Board of Directors approved the QIP proposal in their meeting held on February 06, 2026.

The proposed utilization of funds includes:

• Augmenting the capital base for future capital requirements
• Supporting onward lending activities
• General corporate purposes as permissible under applicable laws

The company has indicated potential deviation of +/- 10% in the specified amount depending upon future circumstances, market conditions, and other commercial factors.

Regulatory Compliance and Pricing

The equity shares will be issued in compliance with various regulatory frameworks including the Companies Act, 2013, SEBI ICDR Regulations, and FEMA provisions. The pricing mechanism will follow SEBI ICDR Regulations with the relevant date for pricing being the Board meeting date when the QIP opening is decided.

Key regulatory features include:

• Minimum 10% allocation to mutual funds with flexibility for reallocation to other QIBs
• Maximum 50% allocation limit to any single allottee
• One-year lock-in period for allotted shares except for stock exchange transactions
• No allocation permitted to promoters or related persons

Shareholder Participation

Only shareholders whose names appear in the register of members or beneficial owners as on the cut-off date of February 06, 2026, are eligible to participate in the e-voting process. The postal ballot notice has been sent electronically to registered email addresses in compliance with MCA circulars.

The resolution requires approval as a special resolution, and if passed, will be deemed effective from the last date of remote e-voting. The company has made the postal ballot notice available on its website www.ireda.in and relevant stock exchange websites for shareholder access.