Key Points
Billionaire Sajjan Jindal-led JSW Energy, on Tuesday, said that the company intends to raise 5,000 crore through a qualified institutional placement (QIP) program..
A Qualified Institutional Placement (QIP) is a fundraising approach whereby a company raises capital by offering shares to qualified institutional buyers..
The share placement could be done in one or more tranches at a floor price of 510.09 rupees apiece on April 5 - a 6% discount to the company's last closing price of 540.20 rupees," JSW Group's energy arm said..
"We further wish to inform you that the Finance Committee of the Board has fixed the Relevant Date for the purpose of the Issue, in terms of Regulation 171 (b)(i) of the SEBI ICDR Regulations, as 2nd April, 2024, and accordingly the Floor Price in respect of the Issue has been determined, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, as 510.09 per Equity Share," ..
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