India's IREDA up on govt nod for $538 mln fundraise
** Shares of Indian Renewable Energy Development Agency INAR.NS come off after rising as much as 4.5% to 237.50 rupees, set to snap four straight sessions of losses
** Indian govt approves renewables lender's 45 billion rupees ($538 mln) fundraising via qualified institutional placement of shares
** The govt, which held a 75% stake in INAR, plans to sell up to 7% holding via fundraise
** Stock up 126% YTD
($1 = 83.6625 Indian rupees)
Reporting by Nishit Navin
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