JSW Energy EGM Successfully Passes ₹3,000 Crore Preferential Issue with 99.99% Approval

JSW Energy successfully concluded its Extraordinary General Meeting (EGM) on January 3, 2026, with shareholders overwhelmingly approving all proposed resolutions including the ₹3,000 crore preferential issue and broader fundraising initiatives. The meeting, conducted through video conferencing from 11:00 AM to 12:31 PM IST, witnessed strong participation with 88.91% of total shares being voted across all resolutions.

EGM Outcomes and Voting Results

All four agenda items received requisite majority approval from shareholders, demonstrating strong confidence in the company's strategic initiatives. The meeting was chaired by Mr. Sharad Mahendra, Joint Managing Director & CEO, in the absence of Chairman & Managing Director Mr. Sajjan Jindal.

Meeting Parameter:	Details
Meeting Duration:	11:00 AM to 12:31 PM IST
Total Shareholders on Record:	5,99,356
Shareholders Attended via VC:	105 (11 Promoter Group, 94 Public)
Scrutinizer:	Mr. Shreyans Jain, Practicing Company Secretary

Resolution-wise Voting Analysis

The preferential issue of equity shares received the highest approval rate, while the convertible warrants resolution faced some institutional resistance but still passed comfortably.

Resolution:	Type	Votes in Favour	Votes Against	Approval Rate
Preferential Equity Shares:	Special	15,53,97,45,72	15,908	99.99%
Convertible Warrants:	Special	13,95,89,87,34	15,80,91,646	89.83%
General Fundraising Authorization:	Special	15,45,82,72,71	81,63,269	99.47%
Related Party Transactions:	Ordinary	35,03,95,917	1,716	100.00%

Preferential Issue Structure Approved

Shareholders approved the comprehensive ₹3,000 crore preferential issue to JTPM Metal Traders Limited at ₹525 per unit, combining both equity shares and convertible warrants as originally proposed.

Component:	Quantity	Price per Unit	Amount (₹ Crores)
Equity Shares:	95,23,809 shares	₹525	₹500
Convertible Warrants:	4,76,19,047 warrants	₹525	₹2,500
Total Issue Size:	5,71,42,856 units	₹525	₹3,000

The convertible warrants provide JTPM Metal Traders the right to subscribe to one equity share per warrant, with a tenure not exceeding 18 months from allotment date. Post-conversion, JTPM's shareholding will increase from 0.27% to 3.43% on a fully diluted basis.

Broader Fundraising and Related Party Transactions

The EGM approved the ambitious ₹10,000 crore fundraising authorization through multiple securities including equity shares, GDRs, ADRs, FCCBs, and debentures, valid until January 2, 2027. Additionally, shareholders approved material related party transactions between JSW Thermal Energy Limited and Toshiba JSW Power Systems Private Limited for the 2x800MW Salboni Project in West Bengal, with aggregate transactions up to ₹2,500 crores.

Voting Participation and Process

The company provided comprehensive e-voting facilities with remote e-voting from December 31, 2025 to January 2, 2026, and live e-voting during the meeting. Institutional investors showed strong participation with 83.68% of their shares being voted, while promoter group participation reached 99.41%.

Shareholder Category:	Shares Held	Votes Polled	Participation Rate
Promoter and Promoter Group:	12,10,59,58,13	12,03,49,74,94	99.41%
Public - Institutions:	41,83,77,229	35,01,12,753	83.68%
Public - Non Institutions:	11,87,95,409	3,80,233	0.32%

Scrutinizer Report and Compliance

Mr. Shreyans Jain, Practicing Company Secretary, served as the scrutinizer for the EGM and confirmed that all resolutions were passed with requisite majority. The voting results along with the scrutinizer's report were made available on the company's website and KFin Technologies Limited's platform as per regulatory requirements.

The successful completion of the EGM with overwhelming shareholder support positions JSW Energy to execute its strategic growth plans and strengthen its position in India's power sector. The approved fundraising will provide the company with significant financial flexibility for future expansion and operational requirements.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.83%	+8.70%	+10.53%	-0.27%	-15.12%	+658.69%

JSW Energy 's subsidiary JSW Energy (Utkal) Limited has successfully signed a power purchase agreement with multiple Karnataka distribution companies, marking a significant milestone in the company's expansion strategy.

Power Purchase Agreement Details

The comprehensive agreement establishes a long-term power supply arrangement that strengthens Karnataka's electricity infrastructure:

Parameter:	Details
Capacity:	400 MW
Contracting Entity:	JSW Energy (Utkal) Limited
Counterparty:	Multiple Karnataka DISCOMs
Agreement Duration:	25 years
Tariff Rate:	₹3.58 per kWh
Supply Commencement:	April 1, 2026

Strategic Impact on JSW Energy

This power purchase agreement significantly enhances JSW Energy's operational profile and revenue visibility. The company's open capacity has been reduced to 5% of current operational capacity from approximately 8%, demonstrating improved capacity utilization and long-term revenue security.

Enhanced Generation Portfolio

JSW Energy's total locked-in generation capacity now stands at an impressive 30.50 GW, showcasing the company's substantial market presence:

Capacity Type:	Details
Operational Capacity:	13.30 GW
Under Construction:	12.40 GW (thermal and renewable)
Hydro Under Acquisition:	150 MW
Development Pipeline:	4.60 GW
Energy Storage Capacity:	29.40 GWh
Hydro Pumped Storage:	26.40 GWh
Battery Energy Storage:	3.00 GWh

Future Growth Trajectory

The agreement aligns with JSW Energy's ambitious strategic objectives of achieving 30 GW of generation capacity and 40 GWh of energy storage capacity by FY2030. The company remains committed to its carbon neutrality goal by 2050, positioning itself as a leader in India's energy transition.

This development further de-risks JSW Energy's generation portfolio while providing stable, long-term revenue streams through its diversified power supply contracts across multiple Indian states.