Allotment of Non-Convertible Debentures
Awaiting price reaction for this filing.
JSW Energy Limited has allotted 25,000 unsecured, listed, rated, taxable, redeemable Non-Convertible Debentures (NCDs) on a private placement basis, aggregating to Rs. 250 Crores. Each NCD has a face value of Rs. 1,00,000 with a 3-year tenure maturing on 12th June 2028. The coupon is floating, linked to Kotak Mahindra Bank's one-month MCLR rate, currently at 8.35%, with interest payable annually and principal redeemed at par on maturity. This allotment is part of the Board's earlier approval (28th January 2025) to raise up to Rs. 3,000 Crores through NCDs, meaning Rs. 2,750 Crores remains to be raised under the approved limit.
The NCD issuance is a modest 8.3% of the approved Rs. 3,000 Crore fundraise plan, so the immediate impact on equity shareholders is limited. Since these are unsecured, floating-rate debentures at benchmark-linked rates, the cost of borrowing remains reasonable and there is no dilution for existing shareholders.