JSW Energy Limited, part of conglomerate JSW Group, has announced the raising of INR 50 billion (about US$661 million) through the sale of shares to institutional investors, including the Abu Dhabi Investment Authority (ADIA).

The proceeds from the offering aim to strengthen JSW Energy's capital structure and improve financial flexibility, and this move will enable the company to accelerate its ambitious growth plans in the energy sector.

This IPO represents the first equity capital raise by JSW Energy since its listing in 2010, and is the largest seed capital raise in the Indian energy sector in the past decade, and among the three largest in the sector's history.

Sharad Mahindra, Co-Managing Director and CEO, JSW Energy, emphasized that India's power demand outlook is very positive supported by a strong investment cycle; Reflecting institutional investors' strong interest and confidence in JSW Energy's position as a diversified energy transition platform; The company is focusing on growing both its generation and storage businesses, with an option for green hydrogen and its derivatives.

JSW Energy plays an active role in transforming the energy sector by setting new standards for industry leadership, and the company is contributing to India's journey towards achieving net zero emissions by 2070.