+
JSW Energy to raise Rs 100 billion for expansion
POWER & RENEWABLE ENERGY

JSW Energy to raise Rs 100 billion for expansion

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.

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.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?