JSW Energy Plans Rs 10,000-Crore Fundraise Via Equity To Fund Expansion
JSW Energy exceeded its FY25 operational capacity target of 10 GW, achieving profitability targets based on the exit run rate of its operational portfolio.
JSW Energy Ltd.'s board of directors approved on Thursday a proposal to raise up to Rs 10,000 crore via equity as it plans to expand capacity.
The capital will be raised in one or more tranches through share sale via private offerings, preferential allotment, qualified institutions placement or any other method, according to an exchange filing.
The company will seek shareholders' approval for fundraising plans at its upcoming annual general meeting.
JSW Energy exceeded its FY25 operational capacity target of 10 GW, achieving profitability targets based on the exit run rate of its operational portfolio.
Following the achievement, the JSW Group company has revised its 2030 target to 30 GW of generation capacity and 40 GWh of energy storage, up from the previous goal of 20 GW generation capacity.
JSW Energy's installed capacity surged 2.8 GW in the March quarter, driven by 478 MW of greenfield wind additions and 2,150 MW of thermal capacity addition. The increase coincides with the onset of the summer season in India when demand for power shoots up.
Net generation rose 24% to 7.9 billion units. Renewable energy generation during the quarter increased 32%, while net long-term PPA generation grew 28% YoY.
Shares of JSW Energy settled 2.6% higher at Rs 487.3 apiece on the BSE ahead of the results, compared to a 1.5% advance in the benchmark Sensex. The stock has fallen 18% in the last 12 months and 24% so far this year.
Nine out of the 16 analysts tracking JSW Energy have a 'buy' rating on the stock, two recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 23%.
