Trending Large Cap Stocks: JSW Energy gets approval for raising funds through securities

JSW Energy plans to raise up to Rs.21,000 crore through various securities with an approval from the shareholders in the annual general meeting held on 13th July, 2017. 

The funds to be raised includes of Rs.5000 crore of non-convertible debentures, Rs.4800 crore via foreign currency bonds and masala bonds, Rs.7500 crore by issuing equity options.

The company denied to disclose the fund raising activity for any particular asset acquisition, but it seems that company has a plan to have a major acquisition in the near future.

In the past years, the company has completed acquisitions of two hydropower projects from Jaiprakash Power. Further, it has plans to acquire more assets and expand its business in the sector.

In FY17, the company's PAT declined to Rs.194.5 crore due to poor power demand and higher imported coal prices. Currently, it has a power generation capacity of 4,531 MW and it aims to increase to 10,000 MW.

JSW Energy Limited, an integrated power company, generates and sells power in India. The company has a power generation capacity of 4,531 MW, which includes 3,140 MW of thermal and 1,391 MW of hydel.