JSW Energy allots shares and warrants worth about Rs 1,125 cr to promoter group JTPM
JSWENERGY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.4 pts more than Nifty Midcap 150 and 1.3 pts more than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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JSW Energy allotted 95.24 lakh equity shares and 4.76 crore convertible warrants to JTPM Metal Traders Limited, a promoter group entity, on a preferential basis at Rs 525 per share or warrant. Equity shares brought in about Rs 500 crores fully paid. Warrants fetched Rs 625 crores as 25 percent upfront, balance due on conversion. Total potential raise is about Rs 2,500 crores. Diluted share count rises to 180.49 crore from 174.78 crore.
Promoter group infusion signals long term commitment but raises diluted share count by about 3.3 percent, causing marginal dilution.