JSW seeks shareholders’ nod to raise Rs 12,500 cr

JSW seeks shareholders’ nod to raise Rs 12,500 cr

Sajjan Jindal company, JSW Energy on Tuesday sought shareholders approval to raise Rs 12,500 crore through issuance of securities, equity shares and other instruments.

JSW Energy Limited, a division of JSW Group in India, which works across areas of power generation, transmission and trading said in a BSE filing, “the special resolution to raise Rs 5,000 crore through non-convertible redeemable debentures on private placement basis is listed on the agenda for annual general meeting scheduled on July 21, 2016.”

According to the statement, there is another special resolution for raising Rs 7,500 crore through issuance of securities, GDRs, ADRs and equity shares.

The company has also sought its shareholders approval to increasing the limit of investment in other body corporate and entities for expanding its business by Rs 15,000 crore over and above the permissible limit of Rs 6,030.48 crore as per audited financial results for 2015-16.

Thus, the companies’ maximum limit for investment will be increased to 21,030.48 crore after passage of this resolution in the annual general meeting.

Leave a Reply

Your email address will not be published.