JSW Energy Completes INR 4,000 Crore Fundraising via QIP with Legal Support from Khaitan & Co and Linklaters The Finance Committee of JSW Energy’s Board approved the allotment of 76,190,476 equity shares at an issue price of INR 525 per share, including a discount of INR 9.05 (1.69% of the floor price) and a premium of INR 515. The total proceeds from the Qualified Institutional Placement (QIP) amounted to INR 39,999,999,900, marking the company’s second equity raise since its 2010 listing. Khaitan & Co guided the fundraising, while Shardul Amarchand Mangaldas & Co and Linklaters Singapore served as Indian and international legal counsel to the book-running lead managers (BRLMs). Jefferies India acted as the sole BRLM on the transaction. Two major allottees received over 5% of the issue: the SBI Equity Hybrid Fund was allocated 36,892,990 shares (48.42% of the total issue size), and the GQG Partners Emerging Markets Equity Fund received 18,387,066 shares (24.13% of the total issue size). Other participants included BlackRock and leading insurance companies. Following the allotment, JSW Energy’s paid-up equity share capital increased from INR 17,572,922,600 (1,757,292,260 shares) to INR 18,334,827,360 (1,833,482,736 shares). The funds raised, combined with recent preferential allotments to promoters and the monetization of JSW Steel shares (which generated INR 3,150 crore), aim to reduce net leverage and strengthen the company’s balance sheet. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, stated that the raise positions the company to pursue its Strategy 3.0, which focuses on expanding across renewable, thermal, and energy storage platforms. JSW Energy currently has a total locked-in generation capacity of 32.1 GW, including 13.7 GW operational and 13.#jsw_energy #khaitan_co #linklaters #shardul_amarchand_mangaldas_co #jefferies_india
