JSW Energy board approves raising up to Rs 750 crore

The issue proceeds would be used for general corporate purposes, business operations

JSW Energy on Tuesday said its board has given nod to raise funds up to Rs 750 crore through issuance of redeemable non-convertible debentures by way of private placement.

The issue proceeds would be used for the general corporate purposes, business operations, working capital and repayment of existing debt, the Sajjan Jindal-led company said in a BSE filing.

"The board (which met today) has approved the raising of funds up to Rs 750 crore through issuance of redeemable non-convertible debentures by way of private placement," the regulatory filing said.

The board has also authorised the Finance Committee to decide on all matters relating to the proposed issuance of the debentures, including finalisation and approval of the detailed terms of issue, it added.

JSW Energy has diversified businesses in carbon steel, power, mining, industrial gases, port facilities, cement and information technology sectors.

It operates 4,531 mw -- 3140 mw thermal and 1,391 mw of hydel -- of power generation capacity with the vision to achieve 10,000 mw in power generation by 2020.