The management said that the highly anticipated unlocking of value in JSW Neo Energy, the group’s green energy arm, may not happen soon as its Rs 5,000 crore QIP has provided enough capital for the next two years. JSW Energy is confident of reaching 20 gigawatt capacity ahead of its FY30 target, riding on organic and inorganic growth.
Jsw Energy: A QIP is a way for listed companies to raise capital by issuing shares to eligible institutional bidders. Details of the QIP, dates, and pricing are yet to be determined.
JSW Energy shares rose nearly 3% to hit a 52-week high of Rs 558 in Wednesday s trade on BSE after the firm said it plans to raise Rs 5,000 crore by selling shares to high net worth investors through a qualified institutional placement process or QIP.
The Board has also authorised the finance committee to take all the necessary decisions in this regard. JSW Energy is one of the leading private-sector power producers in India. The company has established its presence across the value chains of the power sector with diversified assets in power generation, and transmission.