JSW Energy plans Rs 5,000 cr QIP issue this fiscal

Private sector power producer JSW Energy plans to raise Rs 5,000 crore through qualified institutional placement in 2014-15.

The Sajjan Jindal-promoted company has sought an approval of its share-holders for mopping up Rs 5,000 crore through an issue of secured/unsecured redeemable non-convertible debentures on a private placement basis, as well as the utilisation of the funds, according to its annual report.

It plans to expand the capacity and foot print in the generation space with locations identified in Chhattisgarh, Jharkhand, Vijayanagar, and Ratnagiri in Maharashtra, it said.

The company has an operational capacity of 3,140 mw out of which over 40% is merchant power and is expected to augment its capacity by another 8,360 mw when these four proposed plants are commissioned over the next few years.

"While the company has acquired or is acquiring land in these (four) locations besides taking various consents, these projects are proposed to be taken up on getting reasonable clarity on the fuel and power off-take arrangements which are awaited," it said.

JSW Energy, which is engaged in varied businesses including generation, transmission, trading of electricity, besides manufacturing power plant equipment through a JV with Toshiba, is also exploring opportunities in the power distribution sector.

"As part of the strategy to be a fully integrated player in the power sector, the company is keenly evaluating the opportunities in the distribution space," the report said.

It had reported net profit of Rs 755 crore on a revenue of Rs 8,552 crore last fiscal.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Signalling good times, current account deficit is likely to grow from here on

    The current account deficit (CAD) numbers for April-June quarter declined sharply to 1.7 per cent of GDP.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Disruptive innovation in education

The past two weeks had a fair share of interesting ...

Rajgopal Nidamboor

Regain the spirit of focused power

For aeons, the human race has been experimenting with a ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture