JSW Energy closes just above issue price

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Sajjan Jindal-led JSW Group company, JSW Energy , closed the first session above its issue price. It settled at Rs 100.75, a premium of 0.75% over its issue price of Rs 100 per share, after seeing an intraday high of Rs 106.40 and low of Rs 99.99 on the BSE. 

On the NSE, the share closed at Rs 100.2, up 0.2%, after seeing an intraday high of Rs 106.35 and low of Rs 100. It witnessed turnover of Rs 779 crore.

The share opened at Rs 106 on the NSE and at Rs 102 on the BSE.

The initial public offering (IPO) of JSW Energy was subscribed 1.68 times.

It will be utilising the issue proceeds for partially financing construction and development of the Identified Projects aggregating to 2,790 MW in capacity & 400 KV transmission project and mining venture (at cost of Rs 2,142.53 crore) and repayment of corporate debt (Rs 470 crore).

JSW Energy is an established energy company with 860 megawatts, or MW, of operational generating capacity and 2,790 MW of generating capacity in the construction or implementation phase, 135 MW of which has been commissioned.