JSW Energy Ltd, the first company to list on the bourses in 2010, plans to invest nearly Rs 40,000 crore to develop 8,000 MW of power projects, Managing Director Sajjan Jindal said on Monday.
JSW Energy Ltd, the first company to list on the bourses in 2010, plans to invest nearly Rs 40,000 crore to develop 8,000 MW of power projects, Managing Director Sajjan Jindal said on Monday.
The company is implementing projects worth 3,200 MW in Maharashtra, 1,320 MW in Chhattisgarh and 1,600 MW in West Bengal. It plans to become an over 11,000 MW company by 2015. "We have got 8,000 MW in the pipeline, so this money will be needed for that. The investment (for this) is close to Rs 40,000 crore," Jindal said but did not specify the duration for this investment.
The power producer today listed its shares on Bombay Stock Exchange (BSE) where it opened at a premium of two per cent over the issue price of Rs 100. On the National Stock Exchange (NSE) the scrip listed at Rs 106, a premium of six per cent.
JSW Energy, which raised about Rs 2,700 crore through an Initial Public Offer (IPO) held last month, will utilise the issue proceeds to fund expansion, repay debt and for general corporate purposes, Jindal said. "Part of the issue proceeds will be used for expansion into new projects, part will be used for repaying debt and part of the proceeds is for general corporate purpose," he told reporters after the company's listing ceremony here.
JSW Energy, which has an installed capacity of 995 MW, is setting up a 860 MW plant in Vijaynagar (Karnataka) and 130 MW plant in Barmer (Rajasthan).
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