JSW Energy rose 1.30% to Rs 549 after the company's board approved to raise Rs 5,000 crore through qualified institutional placement (QIP) of equity shares with floor price of Rs 510.09 per share.
The companys board authorized and declared the opening of the issue on Tuesday, 2 April 2024.The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
The Issue price will be determined by the company in consultation with the book running lead manager appointed for the Issue
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's consolidated net profit tumbled 28.79% to Rs 231.33 crore on 13.10% rise in net sales to Rs 2542.77 crore in Q3 FY23 over Q3 FY22.
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