JSW Energy has scheduled an Extraordinary General Meeting (EGM) for January 3, 2026, following its board meeting on December 12, 2025, to seek shareholder approval for a comprehensive ₹3,000 crore preferential issue and broader fundraising initiatives up to ₹10,000 crores. The power generation company will conduct the meeting through video conferencing at 11:00 AM IST to approve strategic corporate developments including equity shares and convertible warrants issuance.
EGM Agenda and Resolutions
The EGM will address four special business items requiring shareholder approval, with the primary focus on the preferential issue to promoter group entity JTPM Metal Traders Limited.
| Resolution Item: |
Details |
| Meeting Date: |
January 3, 2026 at 11:00 AM IST |
| Meeting Mode: |
Video Conferencing/Audio-Visual Means |
| Cut-off Date: |
December 29, 2025 |
| E-voting Period: |
December 31, 2025 to January 2, 2026 |
Preferential Issue Structure
The board-approved preferential issuance to JTPM Metal Traders Limited combines equity shares and convertible warrants at ₹525 per unit, designed to raise ₹3,000 crores through a strategic two-component structure.
| 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 equity shares carry a premium of ₹515 per share over the face value of ₹10. 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.
Broader Fundraising Authorization
Beyond the preferential issue, JSW Energy seeks approval for an ambitious fundraising strategy targeting up to ₹10,000 crores through multiple securities. The resolution supersedes the previous approval granted at the 31st Annual General Meeting held on July 11, 2025.
| Fundraising Method: |
Authorization Amount |
| Total Fundraising Limit: |
₹10,000 crores |
| Securities Types: |
Equity shares, GDRs, ADRs, FCCBs, Debentures |
| Validity Period: |
Until January 2, 2027 |
| Combined Authorization: |
₹13,000 crores (including preferential issue) |
Material Related Party Transactions
The EGM will also approve material related party transactions between JSW Thermal Energy Limited (wholly-owned subsidiary) and Toshiba JSW Power Systems Private Limited for aggregate transactions up to ₹2,500 crores. These transactions relate to the 2x800MW Thermal Power Project in West Bengal (Salboni Project), involving pre-NTP engineering services and supply of turbine generator sets.
Shareholding Impact and Leadership Changes
The preferential issue will alter JSW Energy's ownership structure, with JTPM Metal Traders' stake increasing from 0.27% to 3.43% on a fully diluted basis. The company has also appointed Chandrasekaran Prabhakaran as Chief Financial Officer, effective January 18, 2026, bringing 26+ years of corporate finance experience from his current role as Deputy CFO at JSW Steel Limited.
| Parameter: |
Pre-Issue |
Post-Issue (Fully Diluted) |
| JTPM Shareholding: |
47,00,000 shares (0.27%) |
6,18,42,856 shares (3.43%) |
| Total Consideration: |
- |
₹3,000 crores |
Regulatory Process and Timeline
The preferential issue requires shareholder approval through the EGM, with allotment to be completed within 15 days of resolution passage. The initiatives are subject to necessary regulatory and statutory approvals under applicable laws. The relevant date for floor price determination is December 4, 2025, being 30 days prior to the EGM date, with the issue price of ₹525 meeting regulatory requirements under SEBI ICDR regulations.
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