JSW Energy to fetch ₹5,000 crore through QIP; see details here

On Tuesday, JSW Energy, which is led by billionaire Sajjan Jindal, said that it plans to fund ₹5,000 crore through a qualified institutional placement (QIP) scheme. High net worth investors will be offered shares in one or more tranches as the company attempts to achieve this goal.

“The share placement could be done in one or more tranches at a floor price of 510.09 rupees apiece on April 5 – a 6% discount to the company’s last closing price of 540.20 rupees,” JSW Group’s energy subsidiary stated.

“We further wish to inform you that the Finance Committee of the Board has fixed the ‘Relevant Date’ for the purpose of the Issue, in terms of Regulation 171 (b)(i) of the SEBI ICDR Regulations, as 2nd April, 2024, and accordingly the Floor Price in respect of the Issue has been determined, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, as ₹ 510.09 per Equity Share,”