Sajjan Jindal-owned JSW Energy to raise ₹5,000 crore via QIP; Details here
Billionaire Sajjan Jindal-led JSW Energy, on Tuesday, said that the company intends to raise ₹5,000 crore through a qualified institutional placement (QIP) program. The company aims to accomplish this by selling shares to high net worth investors in one or more tranches.
“The share placement could be done in one or more tranches at a floor price of 510.09 rupees apiece on April 5 – a 6% discount to the company’s last closing price of 540.20 rupees,” JSW Group’s energy arm said.
The floor price for the issue has been fixed at ₹510.09 per share.
“We further wish to inform you that the Finance Committee of the Board has fixed the ‘Relevant Date’ for the purpose of the Issue, in terms of Regulation 171 (b)(i) of the SEBI ICDR Regulations, as 2nd April, 2024, and accordingly the Floor Price in respect of the Issue has been determined, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, as ₹ 510.09 per Equity Share,”
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Published: 02 Apr 2024, 09:17 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.