JSW Energy Raises Rs 5k Crore via QIP for Growth Plans

JSW Energy Raises Rs 5k Crore via QIP for Growth Plans/iStock

VoM News Desk | April 6, 2024 | 03:50 PM IST | Breaking News | Follow on Google News

JSW Energy Raises Rs 5k Crore via QIP for Growth Plans

JSW Energy Raises Rs 5k Crore via QIP for Growth Plans

JSW Energy Ltd., a subsidiary of the JSW Group, has successfully secured ₹5,000 crore through a qualified institutions placement (QIP) to expedite its expansion strategies.

The funds raised will primarily be allocated towards debt repayment and investments in JSW Neo Energy, the company’s renewable energy arm.

The QIP, which witnessed strong interest from global asset managers and domestic institutions, attracted over 3.2 times subscription, showcasing confidence in JSW Energy’s diversified energy transition platform.

Pritesh Vinay, Director (Finance) and CFO of JSW Energy, expressed confidence that the proceeds from the QIP would bolster the company’s capital structure, enhance financial flexibility, and facilitate the realization of ambitious growth plans.

Leading global asset managers such as GQG, Blackrock, Nomura, and Wellington, along with domestic mutual funds, participated in the QIP, signaling robust investor confidence.

Jefferies India Pvt. Ltd. served as the sole book running lead manager for the QIP, with legal counsel provided by Khaitan & Co., Shardul Amarchand Mangaldas & Co., and Linklaters Singapore Pte. Ltd.

JSW Energy aims to increase its generation capacity to 20 GW and energy storage capacity to 40 GWh by 2030, aligning with its commitment to carbon neutrality by 2050.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.