JSW Energy Secures Record $600 Million from UAE Wealth Fund

JSW Energy Secures Record $600 Million from UAE Wealth Fund

By Staff Writer, 09 April 2024

JSW Energy Limited, a leading player in the Indian power sector, has successfully secured Rs 50 billion ($600.26 million) through the sale of shares to institutional investors, a move that underscores investor confidence in the company's growth trajectory.

The fundraising, which saw participation from prominent investors including the Abu Dhabi Investment Authority (ADIA), garnered significant interest, with subscriptions exceeding 3.2 times the offered shares, according to a statement released to the Bombay Stock Exchange.

Among the investors in the qualified institutions placement (QIP) are renowned global asset managers such as GQG, Nomura, Blackrock, UBS, and Wellington, highlighting the appeal of JSW Energy's investment proposition.

This milestone marks the largest primary equity raise in the Indian power sector in the past decade and ranks among the top three in the sector's history, emphasizing the scale and significance of the capital infusion.

The fresh capital injection will serve to fortify JSW Energy's capital structure, enhancing its financial resilience and providing the necessary impetus to expedite growth initiatives.

Currently, the company is actively involved in the construction of power projects totaling 2.6 gigawatts, further underlining its commitment to expanding its operational footprint and contributing to India's energy landscape.

Source: Zawya

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