Shardul Amarchand Mangaldas Advised Jefferies on JSW Energy’s INR 4,000 Crore QIP
The leading law firm in India, Shardul Amarchand Mangaldas & Co. (SAM) acted as Indian legal counsel to Jefferies India Private Limited, the sole book running lead manager, in relation to the qualified institutions placement (“QIP”) by JSW Energy Limited (“JSW Energy”).
The QIP involved the issuance of 76,190,476 equity shares having a face value of INR 10 each at a price of INR 525 per equity share, aggregating to approximately INR 4,000 crore. The issue was marketed to institutional investors in India and overseas and was completed within an accelerated timeline amid challenging market conditions.
JSW Energy is one of India’s leading private sector power producers with a diversified portfolio spanning thermal, hydro and renewable energy assets, including battery energy storage systems. The proceeds from the QIP are proposed to be utilised towards repayment and prepayment of certain borrowings of the company and its subsidiaries, investment in subsidiaries including JSW Neo Energy Limited and JSW Thermal Energy Limited, and for general corporate purposes.
The transaction team from Shardul Amarchand Mangaldas & Co. (SAM) was led by Nikhil Naredi (Partner) and Devi Prasad Patel (Partner), with support from Rishika Sharma (Senior Associate), Soundarya Mathavan (Associate) and Kunika Agarwal (Associate).
With this transaction, Shardul Amarchand Mangaldas & Co. (SAM) has acted on all public market equity raises exceeding INR 1,000 crore undertaken in the current fiscal year.
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