JSW Energy Limited has successfully raised Rs 5,000 crore through a share sale to institutional investors, including the Abu Dhabi Investment Authority (ADIA), as reported in a regulatory filing on Friday.
The company completed its Rs 5,000-crore Qualified Institutions Placement (QIP), aiming to bolster its capital structure and facilitate its ambitious growth strategies.
JSW Energy expressed satisfaction with the overwhelming response from prominent global long-only investors, domestic mutual funds, and insurance companies during the QIP process.
With a subscription exceeding 3.2 times, the QIP signifies strong investor confidence in JSW Energy’s prospects and growth trajectory.
Also read: JSW Energy Stock Hits 52-Week High as Firm Reveals Plans to Raise Rs 5,000 Crore via QIP
Participating in the QIP issue were major global asset managers including GQG, Blackrock, Nomura, Wellington, UBS, and ADIA, marking JSW Energy’s first equity raise since its listing in 2010.
JSW Energy described this as the largest primary equity raise in India’s power sector in the last decade and among the top three in its history.
Sharad Mahendra, joint managing director and CEO of JSW Energy, highlighted the positive outlook for power demand amidst India’s investment-driven economic growth, expressing gratitude for institutional investors’ confidence in their diversified energy transition platform.
Mahendra emphasized JSW Energy’s role in shaping the energy sector transformation, setting industry benchmarks, and contributing to India’s net-zero targets by 2070.
JSW Energy Limited, a leading private sector power producer in India, is part of the USD 23-billion JSW Group with significant interests in steel, energy, infrastructure, cement, and sports.
JSW Energy operates across power sector value chains, boasting diversified assets in power generation and transmission.
Established in 2000 with the commissioning of its first 2×130 MW thermal power plants in Vijayanagar, Karnataka, JSW Energy has steadily expanded its generation capacity to 7,189 MW across thermal, wind, hydel, and solar sectors.
Currently, the company is engaged in constructing various power projects with a cumulative capacity of 2.6 GW.
Sources: moneycontrol.com