$JSWINFRA

JSW Infrastructure has successfully closed its Rs 7,503-crore qualified institutional placement (QIP), with the company's Finance Committee approving the issue's closure on June 25 after receiving application forms and funds from eligible qualified institutional buyers (QIBs). The QIP witnessed robust investor interest, attracting bids worth over Rs 50,350 crore—nearly seven times the base issue size of up to Rs 7,503 crore, according to a PTI report. In a regulatory filing, the company said its Finance Committee approved the allotment of 23 crore equity shares through the fresh issue and an additional 3.33 crore equity shares under the offer for sale (OFS) by the Sajjan Jindal Family Trust. The shares were allotted at an issue price of Rs 285 apiece. The issue price was set at a discount of Rs 5.35 per share, or 1.84 percent, to the SEBI-prescribed floor price of Rs 290.35. The QIP had opened for subscription on June 22. The capital raise is aimed at supporting JSW Infrastructure's long-term growth strategy. The company has earmarked a capital expenditure of Rs 30,000 crore between FY25 and FY30, with nearly Rs 16,500 crore expected to be deployed by FY28. On June 25, shares of JSW Infrastructure settled 2.33 percent lower at Rs 330.50. Despite the decline, the stock has gained around 4.1 percent over the past year, outperforming the Nifty 50, which has fallen 5.8 percent during the same period.