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JSW Energy has raised INR 4,000 crore through a qualified institutions placement (QIP) by issuing 7.61 crore equity shares to eligible institutional buyers. The company allotted shares at INR 525 each, reflecting a 1.69 per cent discount to the floor price of INR 534.05 per share. The fundraising was approved by the finance committee of the board after receiving application forms and funds in the escrow account from institutional investors. The capital raise comes as the company continues to expand its power generation portfolio and strengthen its long-term growth plans in the energy sector.
JSW Energy has raised INR 4,000 crore through the issuance of equity shares under a qualified institutions placement (QIP), according to a company statement released recently. Advertisement
The company said its finance committee approved the closure of the issue after receiving application forms and funds in the escrow account from eligible qualified institutional buyers, in line with the terms of the offering.
As part of the transaction, the board approved the allotment of 7.61 crore equity shares at an issue price of INR 525 per share. The issue price was fixed at a discount of INR 9.05 per share, or 1.69 per cent, to the floor price of INR 534.05 per share.
A QIP is a commonly used route by listed companies to raise capital from institutional investors without undergoing lengthy regulatory procedures associated with larger public offerings. The fundraising is expected to support the company’s expansion plans and strengthen its financial position.
The development comes at a time when JSW Energy has been increasing its focus on renewable energy capacity, energy storage projects and thermal power optimisation. In recent quarters, the company has announced investments across solar, wind and battery energy storage segments as part of its long-term capacity growth strategy.
The company, part of the JSW Group, has been actively pursuing capacity additions through both organic and inorganic routes. Earlier, the company had also outlined plans to expand its total power generation capacity significantly over the next few years, with a larger share coming from clean energy assets.
Source PTI
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