The shares of JSW Energy rose 3% on April 3, after the company’s Board of Directors planned to issue Qualified Institutions Placement (QIP) of equity shares with a face value of Rs 10 each, being pursued under the provisions of the Securities and Exchange Board of India Regulations, 2018, as amended.

This will be offered to eligible investors in one or more tranches for an aggregate amount not exceeding Rs 5,000 Crore, subject to necessary regulatory approvals. As per the company’s recent regulatory filing, the Finance Committee of the Board has been duly authorised to make all the company’s decisions in this regard.

JSW Energy Limited, also known as “the Company” or “the Parent,” is a public company established on March 10, 1994, under the Companies Act of 1956. It is primarily listed on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited.

The company’s registered office is located at JSW Centre, Mumbai, Maharashtra. The company and its subsidiaries, collectively referred to as “the Group,” are mainly involved in power generation with operations in most states across India. In addition to power generation, the Group has a joint venture company engaged in mining activities and an associate company involved in turbine manufacturing.

At 12:00 pm, the shares of JSW Energy were trading 1.35% higher at Rs 549.50 on NSE.