JSW Energy has received approval from its board of directors for raising funds up to Rs 10,000 crore in one or more tranches through the issuance of private offerings, qualified institutional placement, or any other permitted method thereof, the company said in its regulatory filing on Friday.
The board approved the issuance of over 95 lakh equity shares on a preferential issue to JTPM Metal Traders (JTPM), a member of the promoter group. The issue price for the shares has been set at Rs 525 per equity share, including a premium of Rs 515 per equity share.
As per the regulatory filing, the company will also issue over 4.76 crore warrants to JTPM on a preferential basis. Each warrant carries the right exercisable by the allottee to subscribe to one equity share per warrant for cash consideration. The price of each warrant stands at Rs 525, inclusive of a premium of Rs 515.
The board approved a proposal to seek shareholder approval for the preferential issue and other fundraisers through an extraordinary general meeting, the company added.
JSW Energy appoints new CFO
JSW Energy has appointed Chandrasekaran Prabhakaran as the company’s Chief Financial Officer and a key managerial personnel, with the board’s approval. His appointment will come into effect from January 1, 2026. Prabhakaran has been associated with the JSW Group since November 14 and currently serves as the Deputy Chief Financial Officer at JSW Steel.
Market Reaction
Following the announcement of fundraising, the company’s shares closed at Rs 483, up 5.5% from its previous close. Over the last five trading sessions the company’s stock has delivered a return of over 3%.