JSW Energy raises Rs 4,000 crore via qualified institutions placement (QIP)

Pic/JSW Energy ltd

JSW Energy on Monday said it has raised Rs 4,000 crore through the issuance of 7.61 crore shares on a qualified institutions placement basis.

The finance committee of the board, at its meeting held on May 25, inter alia, passed the resolutions for approving the closure of the issue pursuant to the receipt of application forms and funds in the escrow account from the eligible qualified institutional buyers in accordance with the terms of the issue, JSW Energy said in a statement.

The company's board has approved the allocation of 7,61,90,476 equity shares at an issue price of Rs 525 apiece, which is at a discount of Rs 9.05 per share, i.e., 1.69 per cent to the floor price of Rs 534.05, it said.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.