NEW DELHI: JSW Energy has concluded a Rs 5,000 crore qualified institutions placement (QIP), marking its first equity raise since its 2010 listing, the company said on Saturday. The QIP drew substantial interest from global investors, domestic mutual funds, and insurance companies.
The offering, oversubscribed by over 3.2 times, saw participation from major global asset managers like GQG, Blackrock, Nomura, Wellington, UBS, and Abu Dhabi Investment Authority (ADIA). The fundraising stands as the largest primary equity raise in power sector in the decade and among top three in the sector’s history, the company claimed in a statement.
Sharad Mahendra, JSW Energy’s joint MD and CEO, said, “India’s strong investment cycle driven growth momentum bodes well for power demand outlook. The strong institutional investor interest reflects unwavering confidence in our positioning as a diversified energy transition platform focused on growing both the generation and storage businesses.”