Nature of the Disclosure

JSW Energy Limited has disclosed the completion of a Qualified Institutions Placement (QIP) of equity shares through a regulatory filing to BSE Limited and National Stock Exchange of India Limited, in accordance with SEBI Listing Regulations and SEBI ICDR Regulations.

Transaction Details

  • Issue Type: Qualified Institutions Placement of equity shares
  • Face Value: ₹10 per equity share
  • Total Shares Allotted: 7,61,90,476 equity shares
  • Issue Price: ₹525 per share (includes ₹515 premium per share)
  • Discount: ₹9.05 per share (1.69% discount to floor price)
  • Total Proceeds: ₹39,99,99,99,900 (₹3,999.99999 crore)
  • Allotment Date: 25th May 2026
  • Committee Approval: Finance Committee meeting held from 11:00 p.m. to 11:15 p.m. on 25th May 2026

Major Allottees

| Allottee Name | Shares Allotted | % of Issue Size |

| SBI Equity Hybrid Fund | 3,68,92,990 | 48.422% |

| GQG Partners Emerging Markets Equity Fund | 1,83,87,066 | 24.133% |

Capital Structure Impact

  • Pre-Issue Paid-up Capital: ₹17,57,29,22,600 (1,75,72,92,260 equity shares)
  • Post-Issue Paid-up Capital: ₹18,33,48,27,360 (1,83,34,82,736 equity shares)
  • Capital Increase: ₹76,19,04,760

The company will submit the detailed shareholding pattern along with the listing application as per Regulation 31 of SEBI Listing Regulations.

Strategic Context and Use of Proceeds

According to the media release, the QIP represents JSW Energy's second equity raise since listing in 2010. The ₹4,000 crore raise attracted participation from leading domestic mutual funds (including SBI Mutual Fund), global institutional investors (including GQG and Blackrock), and insurance companies.

The proceeds will be combined with:

  • Recent preferential allotment to promoters
  • Monetization of JSW Steel shares (gross proceeds of ₹3,150 crore)

This capital will strengthen the company's balance sheet, reduce net leverage, and position JSW Energy as one of the most robustly capitalized independent power producers in India. The company targets net leverage of less than 5x by 2030.

Management Commentary

Sharad Mahendra, Joint MD & CEO: "This capital raise is a strong endorsement of our strategy and the long-term structural opportunity in India's power sector. We are now well-capitalized to pursue our Strategy 3.0 with agility."

Prabhakaran Chandrasekaran, CFO: "The capital raise is aimed at securing the Company's growth in a financially prudent manner. The proceeds strengthen our capital structure enabling de-leveraging and improving our bottom line."

Company Capacity and Targets

  • Total Locked-in Generation Capacity: 32.1 GW
  • Operational: 13.7 GW
  • Under Construction: 13.8 GW
  • Pipeline: 4.6 GW
  • Energy Storage Capacity: 29.6 GWh
  • Pumped Hydro Storage: 26.4 GWh
  • Battery Energy Storage: 3.2 GWh
  • 2030 Targets: 30 GW generation capacity, 40 GWh energy storage capacity
  • Carbon Neutrality Target: 2050

Advisors

  • Book Running Lead Manager: Jefferies India Private Limited
  • Legal Counsel to Company: Khaitan & Co.
  • Legal Counsel to BRLM: Shardul Amarchand Mangaldas & Co. and Linklaters Singapore Pte. Ltd.