JSW Energy Ltd has successfully completed its `5,000 crore Qualified Institutions Placement (QIP). The issue garnered a very strong interest from marquee global long-only investors, domestic mutual funds and insurance companies, reflecting their confidence in India’s power sector outlook and the company’s unique and distinctive positioning as a leading player in the Indian power sector.
This marks the first-ever equity raise by the company since its listing in 2010. This is the largest primary equity raise in the Indian power sector in the last decade, and among the top three largest primary equity raise in the history of the Indian power sector. The QIP witnessed an overwhelming response resulting in over 3.2 times subscription.
Few of the largest global asset managers like GQG, Blackrock, Nomura, Wellington, UBS and Abu Dhabi Investment Authority (ADIA) participated in the QIP, entrusting their confidence in the long term growth prospects of the company. JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. It has set an ambitious target of achieving Carbon Neutrality by 2050.
