JSW Energy to raise Rs 100 billion for expansion

09 May 2024 CW Team

The board of JSW Energy has sanctioned the raising of funds up to Rs 100 billion in one or more installments. This decision stems from the power producer's pursuit of acquiring clean energy companies available for sale in the market, aligning with its goal to achieve a capacity of 20 Gigawatts (GW) by 2030.

As per a regulatory filing on May 7, the company stated its intention to carry out this fundraising through various means like private offerings, preferential allotments, or qualified institutions placements, either individually or in combination, in accordance with prevailing laws.

Furthermore, JSW Energy has proposed to obtain enabling approval from the board members during the upcoming Annual General Meeting to raise funds not exceeding Rs 100 billion as and when the need arises.

Pritesh Vinay, Director (Finance) & Chief Financial Officer, remarked, "There is also a lot of inorganic play available in the market, and at the time of a right opportunity, we don't want to be constrained by the necessary board approval for a capital raise."

As of March 31, 2024, the company's consolidated net worth and net debt stood at Rs 208.32 billion and Rs 266.36 billion, respectively, resulting in a net debt-to-equity ratio of 1.3.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..