JSW Energy, led by billionaire Sajjan Jindal, announced its intention to raise ₹5,000 crore through a qualified institutional placement (QIP) program, where shares will be offered to qualified institutional buyers. The company plans to accomplish this by selling shares to high net worth investors in one or more tranches.
A Qualified Institutional Placement (QIP) is a method of fundraising wherein a company raises capital by offering shares to qualified institutional buyers.
The share placement is scheduled to take place on April 5, with a floor price of ₹510.09 per share, representing a 6% discount to the company’s last closing price of ₹540.20.
JSW Energy did not disclose how it plans to utilize the proceeds from the placement.
JSW Energy, a significant entity within the esteemed JSW Group valued at $23 billion, is a leading private-sector player in India’s power sector. It has significantly increased its power generation capacity over time, from 260 MW to an impressive 7,189 MW, distributed across thermal, wind, hydel, and solar sources. Currently, the company commands a formidable power generation capacity of 9.8 GW, with 6.8 GW already installed and operational.
