Indian Renewable Energy Development Agency (IREDA) Ltd. the state-run renewable energy financier, is looking to raise up to ₹3,000 crore by selling shares to eligible institutions, sources with knowledge of the matter told CNBC-TV18.

The Qualified Institutional Placement is likely to be priced at a discount of 5% to the current market price, the sources said.

Motilal Oswal, SBI Cap, IDBI Capital, and Emkay are the likely bankers to the QIP issue, according to the sources.

CNBC-TV18 has reached out to IREDA and is awaiting a response.

IREDA's board had approved raising ₹5,000 crore through the QIP process earlier this year and was also approved by shareholders. The potential fund raise comes just five months after it raised ₹2,000 crore through a QIP issue back in June this year.

“We

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