JSW Energy announced that it has raised Rs 50 billion through qualified institutional placement (QIP) route. The company announced that its QIP was oversubscribed by more than 3.2 times. Global asset managers such as GQG Partners, Blackrock, Nomura, Wellington, UBS, and Abu Dhabi Investment Authority took part in the issue. Additionally, domestic mutual funds and insurance companies also participated in the QIP.
The board of the company sanctioned the issuance and allocation of 103 million equity shares to 97 qualified institutional buyers at a price of Rs 485 per share. This price incorporates a discount of Rs 25.09 per share compared to the floor price. Following the allocation, the company’s paid-up equity share capital increased from Rs 16.4 billion to Rs 17.5 billion, with each consisting of 1.7 billion equity shares.
In March 2024, JSW Energy inked a battery energy storage purchase agreement with Solar Energy Corporation of India
In May 2023, JSW Renew Energy Three Limited inked a power purchase deal with the SECI for 25-years of electricity supply at a rate of Rs. 2.94 per KWh.
