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JSW Energy secures ₹5,000 crore funding from Abu Dhabi Investment Authority and other investors

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In Short:

JSW Energy Limited raised ₹5,000 crore through share sale to investors like ADIA to support growth plans. Proceeds from Qualified Institutions Placement (QIP) will strengthen capital structure and expand financial flexibility. Issue received strong interest from global investors. JSW Energy is working towards increasing energy generation and storage capacities, aiming for 20 GW generation and 40 GWh energy storage by 2030 and carbon neutrality by 2050.

JSW Energy Raises ₹5,000 Crore to Fuel Growth Plans

JSW Energy Limited, a powerhouse in the energy sector, has secured a whopping ₹5,000 crore by selling shares to institutional investors, with the prominent Abu Dhabi Investment Authority (ADIA) among them. This financial boost aims to fast-track the company’s ambitious growth agenda.

Successful Completion of Qualified Institutions Placement (QIP)

Through a recent regulatory filing, JSW Energy proudly announced the successful completion of its ₹5,000-crore Qualified Institutions Placement (QIP). This substantial capital injection will not only solidify the company’s financial foundation but also pave the way for accelerated expansion.

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Strong Investor Interest and Participation

The QIP saw an overwhelming response, with more than 3.2 times subscription. Noteworthy global asset managers like GQG, Blackrock, Nomura, Wellington, and UBS, alongside ADIA, actively participated in the offering, marking a significant milestone for JSW Energy.

“This marks the first-ever equity raise by the company since its listing in 2010,” JSW Energy noted.

Pioneering The Green Transformation

Sharad Mahendra, the joint managing director and CEO of JSW Energy, expressed optimism about India’s economic growth trajectory driving the demand for power. He emphasized the institutional investors’ confidence in JSW Energy’s strategic positioning in the energy transition landscape.

At JSW Energy, Mahendra stated, “We are actively shaping the energy sector’s transformation and steadfastly advancing towards India’s net-zero targets by 2070.”

Key Partnerships and Future Endeavors

Jefferies India Private Limited served as the sole book running lead manager for the QIP. Legal counsel was provided by Khaitan & Co. for JSW Energy, with additional counsels Shardul Amarchand Mangaldas & Co. and Linklaters Singapore Pte. Ltd.

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Growth Trajectory and Sustainability Goals

JSW Energy, a dynamic entity under the renowned $23-billion JSW Group umbrella, spans across various sectors from steel to sports. Since its inception in 2000, JSW Energy has made significant strides in expanding its power generation capacity, aiming to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.

The company’s commitment to achieving carbon neutrality by 2050 underscores its dedication to sustainable practices and industry leadership.

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