State-run Indian Renewable Energy Development Agency (IREDA) posted its latest shareholding data with the exchanges on Tuesday evening.

What Happened: As per the data, Foreign institutional investors cut their stake in the company during the July-September period. FIIs currently hold around 2.02% stake in the company. This is a dip from the 2.70% stake they held at the end of the June quarter.

Mutual Funds also dumped the stock during the September quarter. Mutual Fund holding in the stock came down to around 0.19% from 0.24% reported at the end of the June quarter.

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Retail investors, on the other hand, raised their holding in the PSU stock. In the July-September quarter, the stake of Retail investors holding up to ₹2 lakh went up 19.88% from 18.59% at the end of June. The number of holders went up to 25.85 lakh in September, a 17% jump compared to 22.15 lakh at the end of June.

Earlier in the month, the company reported a 303% increase in loan sanctions, approving ₹17,860 crore worth of loans compared to ₹4,437 crore sanctioned during the same period last year. Loan disbursements went up to ₹9,787 crore in the first half of the fiscal year, a 56% increase from the ₹6,273 crore disbursed in the corresponding period last year.

The company will report earnings later this week on October 10.

Price Action: IREDA’s share price was up 6.28% to close at ₹228.29 on Tuesday.

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