JSW Energy board OKs allotment of NCDs worth Rs 250 cr

JSW Energy announced that its board has approved the allotment of non convertible debentures (NCDs) aggregating to Rs 250 crore on private placement basis.

The finance committee of the board of directors approved the allotment of 25,000 unsecured, redeemable, rated, listed, taxable, non-convertible debentures having face value of Rs 1 lakh each, at coupon rate of 8.45%, aggregating to Rs 250 crore.

The tenure of instrument is 2 years 11 months and 26 days and date of maturity is 13 March 2026. NCDs will be listed on BSE.

Earlier in October, the board of directors had given approval to raise funds upto Rs 2,500 crore through issuance of redeemable non-convertible debentures by way of private placement.

JSW Energy is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).

The company reported 44.6% decline in consolidated net profit of Rs 179.61 crore in Q3 FY23 compared with Rs 323.93 crore in Q3 FY22. Net sales rose 18% to Rs 2,248.09 crore in Q3 FY23 as against 1,905.16 crore in Q3 FY22.

The scrip was down 1.17% to Rs 252.45 on the BSE.

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