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JSW Energy plans to raise Rs 12,500-cr for capex, expansion

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Power producer JSW Energy is planning to raise up to Rs 12,500 crore through issuance of various securities as it eyes organic and inorganic ways to expand business.
The firm, part of $11 billion Sajjan Jindal led-JSW Group, will seek shareholders’ approval soon for raising up to Rs 5,000 crore for ongoing capital expenditure and another Rs 7,500 crore to pursue “organic and inorganic growth opportunities”, among others.
To augment long term resources for financing ongoing capital expenditure and for general corporate purposes, among others, JSW Energy “may offer or invite subscription to secured/unsecured redeemable non-convertible debentures on private placement basis”.
“The proposed resolution supersedes the special resolution passed on March 3, 2015 and enables board to issue securities for an aggregate amount not exceeding Rs 7,500 crore,” the notice said. The firm has installed power generation capacity of 3,140MW, while 8,630MW capacity is under implementation and development.

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