JSW Energy gets exchange nod for Rs 3000 crore preferential issue to promoter group
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 1.2 pts more than Nifty Midcap 150 and 1.2 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 received in-principle approval from BSE and NSE for a preferential issue of 95,23,809 shares and 4,76,19,047 convertible warrants to JTPM Metal Traders (a promoter group company) at Rs. 525 each. Total issue worth about Rs. 3,000 crore. Warrants carry a premium of Rs. 515 over face value of Rs. 10.
Promoter group is infusing about Rs 3000 crore, signaling confidence. Warrants conversion later could slightly dilute other shareholders.