JSW Energy shares rally 5% as board approves fundraising via QIP, preferential issue; all you need to know

The company’s board approved a preferential issue of equity shares and convertible warrants, each carrying a face value of ₹10. As part of the issue, the company will allot 9,523,809 equity shares on a preferential basis to JTPM Metal Traders Limited, a promoter group entity, at an issue price of ₹525 per share, including a premium of ₹515.

Additionally, the board has also cleared the issuance of 47,619,047 convertible warrants to JTPM Metal Traders, with each warrant giving the holder the right to subscribe to one equity share at ₹525 per warrant (inclusive of a ₹515 premium).

JSW Energy’s board has approved raising up to ₹10,000 crore in one or more tranches through the issuance of eligible securities via private placements, qualified institutional placements (QIP), or other permitted methods. However, the fundraising plan is subject to shareholder approval as well as necessary regulatory and statutory clearances.

JSW Energy subsidiary signs PPA

In a separate filing, JSW Energy said that its Utkal subsidiary signed a Power Purchase Agreement (PPA) with multiple Karnataka DISCOMs on Friday. The agreement includes the supply of 400 MW of power, starting April 1, 2026, for a tenure of 25 years at a tariff of ₹5.78 per kWh.

“With this PPA, JSW Energy’s open capacity reduces to ~5% of the current operational capacity from about 8%, further strengthening long-term revenue visibility and de-risking the company’s generation portfolio,” the firm said in a regulatory filing.

JSW Energy’s total locked-in generation capacity now stands at 30.5 GW, comprising 13.3 GW of operational capacity, 12.4 GW under construction across thermal and renewable projects, 150 MW of hydro capacity under acquisition, and a 4.6 GW development pipeline.

It also has 29.4 GWh of locked-in energy storage capacity, including 26.4 GWh of pumped hydro storage projects and 3.0 GWh of battery energy storage systems.

JSW Energy share price

At 2:40 PM, JSW Energy shares were trading at ₹476.15 apiece on the National Stock Exchange, gaining 4.01%.

Over a month’s time, JSW Energy shares have fallen 11.3%, while the stock has lost over 9% in 6 months. Since the beginning of 2025, the stock has tumbled more than 27%.

Shares of the firm had hit a 52-week high of ₹700.90 on December 18, 2024, and a 52-week low of ₹418.75 on February 17, 2025.

The company has a total market capitalisation of ₹81,734.39 crore, according to data on the NSE.

JSW Energy Q2 earnings

JSW Energy’s consolidated net profit had declined over 17% year-on-year (YoY) to ₹705 crore in the September quarter of the current fiscal year (Q2 FY26), weighed down by a surge in expenses. It had clocked a net profit (profit after tax or PAT) of ₹853 crore in the second quarter of the preceding 2024-25 financial year.

In the latest July-September period, the company registered a 59% year-on-year rise in total revenues to ₹5,361 crore from ₹3,459 crore in the year-ago period.

However, JSW Energy's expenses shot up by around 79% to ₹4,407.54 crore from ₹2,462.89 crore in July-September FY25.

The firm had further said that despite the Q2 FY26 PAT decline, the same grew by 5% YoY in H1 FY26 to ₹1,448 crore.