JSW Energy board approves fundraise of up to Rs 10,000 crore, stock gains 5%

Shares of JSW Energy rose 5.3% to close Friday’s session at Rs 480.60 on the BSE after the company’s board approved a fundraise of up to Rs 10,000 crore through various routes including Qualified Institutions Placement (QIP) and other private offerings.

In a regulatory filing, the company said its board has cleared a proposal to raise funds in one or more tranches through the issuance of eligible securities, either via QIP, private offerings, or a combination of permitted methods, subject to necessary shareholder and regulatory approvals.

The company will seek shareholder approval for the fundraise by convening an Extraordinary General Meeting (EGM) shortly


In addition to this broad-based fundraise, the board has also approved a preferential issue of equity shares and convertible warrants to JTPM Metal Traders, a promoter group entity.

Under this preferential allotment:

• 95,23,809 equity shares will be issued at a price of Rs 525 per share, including a premium of Rs 515. This would raise up to Rs 500 crore for the company
  
• 4,76,19,047 convertible warrants will also be issued to JTPM Metal Traders Ltd at Rs 525 per warrant. Each warrant can be converted into one equity share within 18 months. This leg of the fundraise is expected to bring in an additional Rs 2,500 crore
  

Together, the preferential issue is expected to raise up to Rs 3,000 crore, which forms part of the broader Rs 10,000 crore fundraising plan approved by the board.

Post the allotment of shares and full conversion of warrants, the promoter group entity’s stake is set to increase significantly. The post-preferential holding of JTPM Metal Traders will rise from 0.27% to 3.43% on a fully diluted basis.

In a separate development, the company also announced the appointment of Chandrasekaran Prabhakaran as the new Chief Financial Officer (CFO) and Key Managerial Personnel, effective January 1, 2026, replacing Pritesh Vinay who recently resigned.

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