JSW Energy completes Rs 5,000 crore QIP, its 1st ever equity raise since 2010

JSW Energy has successfully completed its Rs 5,000-crore Qualified Institutions Placement (QIP). The company said in an exchange filing that the proceeds from the QIP will further bolster its capital structure, enhance financial flexibility and enable the company to accelerate its ambitious growth plans.
"The issue garnered a very strong interest from marquee global long-only investors, domestic mutual funds and insurance companies...," it added.

The QIP witnessed more than 3.2 times subscription.

Some of the largest global asset managers, such as GQG, Blackrock, Nomura, Wellington, UBS and ADIA, participated in the QIP issue.
"This marks the first-ever equity raise by the company since its listing in 2010," JSW Energy said.

This is the largest primary equity raise in the Indian power sector in the last decade and among the top three largest primary equity raises in the history of the Indian power sector, the company said.

Sharad Mahendra, joint managing director and CEO of JSW Energy, said: "India's strong investment cycle-driven economic growth momentum bodes well for power demand outlook. The strong institutional investor interest reflects their unwavering confidence in our positioning as a diversified energy transition platform focused on growing both the generation and storage businesses, with optionality for green hydrogen and its derivatives."
At JSW Energy, he said, "We are not just witnessing the transformation of the energy sector, we are actively shaping it, setting new benchmarks for industry leadership, and aiding India's journey towards net-zero targets by 2070."

Jefferies India Private Limited was the sole book running lead manager. Khaitan & Co. was the legal counsel to the company while Shardul Amarchand Mangaldas & Co. and Linklaters Singapore Pte. Ltd. were counsels to the book running lead manager.

JSW Energy Limited, a part of the USD 23-billion JSW Group, has presence in sectors such as steel, energy, infrastructure, cement and sports, among others.