JSW Energy board clears plan to raise up to ₹10K crore via securities

JSW Energy's board on Friday approved the proposal of raising up to Rs 10,000 crore in one or more tranches, through issuance of securities on private offerings, qualified institutions placements, or any other method or combination thereof.

The board in its meeting on Friday also approved the proposal of issuance of 95,23,809 equity shares, on a preferential issue basis, to JTPM Metal Traders Ltd, a member of the Promoter Group (JTPM) at an issue price of Rs 525 per equity share, including a premium of Rs 515 per equity share, a regulatory filing said.

According to the filing, the board has also approved issuance of 4,76,19,047 warrants, on a preferential issue basis, to JTPM, with each warrant carrying a right exercisable by the warrant allottee to subscribe to one equity share per warrant, for cash consideration, at a price of Rs 525 per warrant (including a premium of Rs 515 per warrant).

The board approved "the raising of funds of up to Rs 10,000 crore in one or more tranches, through the issuance of eligible securities of the company by way of private offerings and/or qualified institutions placement or any other method or combination thereof as permitted under the applicable laws, subject to approval of the shareholders and such regulatory/statutory approvals, as may be required."  The board also approved the proposal of seeking approval of shareholders, through convening an extraordinary general meeting, inter-alia, for the preferential issue and the fundraises cleared on Friday by it.

The board also approved the appointment of Chandrasekaran Prabhakaran as the Chief Financial Officer and a Key Managerial Personnel of the company with effect from January 1, 2026.

Prabhakaran, 50, is a seasoned finance leader and a chartered accountant and cost accountant with over 26 years of experience in corporate finance, accounting, and governance across large listed conglomerates.

He currently serves as the Deputy Chief Financial Officer at JSW Steel Ltd, having been associated with the JSW Group since November 2014.