JSW Energy raises ₹5,000 crore ($664 million) through share sale to institutional investors, including ADIA, for growth plans and carbon neutrality.
JSW Energy, an Indian power producer, has raised ₹5,000 crore ($664 million) by selling shares to institutional investors, including the Abu Dhabi Investment Authority (ADIA). This marks the company's first-ever equity raise since its listing in 2010 and is the largest primary equity raise in the Indian power sector in the last decade. The proceeds from the Qualified Institutions Placement (QIP) will strengthen the company's capital structure, enhance financial flexibility, and enable JSW Energy to accelerate its ambitious growth plans, which include reaching 20 GW generation capacity and 40 GWh of energy storage capacity by 2030, and achieving carbon neutrality by 2050.
April 05, 2024
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