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JSW energy seeks shareholders nod to raise Rs 15K Cr

The resolution was also passed in the annual general meeting held on July 13, 2017.


PTI India
Updated: 16-07-2018 19:00 IST
JSW energy seeks shareholders nod to raise Rs 15K Cr

The resolution was also passed in the annual general meeting held on July 13, 2017. But the company did not raise funds. Therefore it is listed again for approval of shareholders as approved resolutions are valid for a year only. (Image Credit: Twitter)

JSW Energy said it will seek shareholders' approval to raise.Rs 15,000 crore through issuance of debentures, shares and bonds at its annual general meeting on August 6.

A special resolution to raise up to Rs 5,000 crore of secured/unsecured redeemable convertible debentures in one or more tranche on private placement basis in listed on the agenda of the company's annual general meeting on August 6, a BSE filing said.

The shareholders had passed this resolution on July 13, 2017, but raised Rs 500 crore. Since the resolution was valid for one year.

Besides the company has also sought shareholders nod to raise USD 750 million (about Rs 5,000 crore) through issuance of non-convertible foreign currency denominated bonds or Masala bonds dominated in equivalent Indian currency in aggregate in the capital market.

The resolution was also passed in the annual general meeting held on July 13, 2017. But the company did not raise funds. Therefore it is listed again for approval of shareholders as approved resolutions are valid for a year only.

The company said that the funds raised under the two resolutions would be used for financing capital expenditure of existing or new businesses, for refinancing part of existing loans to reduce interest costs and for any general corporate purposes.

The company has also sought shareholders approval to raise.Rs 5,000 crore through issuance of equity shares, GDR, ADR, FCCB and convertible debentures, non-convertible debentures with warrants and such other securities.

The shareholder had passed a resolution to raise.Rs 7,500 crore via issuance of equity shares, GDR, ADR, FCCB and convertible debentures, non-convertible debentures with warrants and such other securities in the AGM held on July 13, 2017. But no amount was raised.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : India

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