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.
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