JSW Energy files draft paper for $620 mn IPO

JSW Energy files draft paper for $620 mn IPO

Mumbai: JSW Energy Ltd (JSWEL), a power generation subsidiary of Jindal South West (JSW), on Friday filed a draft red herring prospectus with markets regulator Securities and Exchange Board of India for its proposed initial public offering (IPO) of Rs3,000 crore in equity shares.

The company is also considering a pre-IPO placement of equity shares with various investors. If the pre-IPO placement is completed, the issue size offered to the public will be reduced accordingly.

The company said that it would use about Rs2,134.83 crore out of the net proceeds from the IPO to fund construction and development projects, while Rs475 crore could be used to repay corporate debts. JSWEL supplies power to JSW Steel Ltd., and to Power Trading Corporation.

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