Jakson Group plans to raise $500 mn for boosting ops

livemint.com:

₹3,000-5,000 crore every year across the diversified sectors over the next five years, taking the total investment up to ₹25,000 crore during the period. “We will be raising both equity and debt for all these investments. Fortunately we had been a debt free company, our credit rating is excellent and we have been talking to many financial institutions all over the world.

I don’t think that’s a constraint by any standards," he said. He said the company has given the mandate to investment banks for the fundraise, but he did not disclose the names of the banks. “We have already given mandate.

At the moment as a first step we are talking about $500 million. Its going to be between $300-500 million depending upon which institution chooses to partner with us or where we are able to strike the right marriage." Noting that the fund raise would be in phases, Gupta said the company expects to raise part of the projected $500 million in the third quarter of 2024 and the rest in the subsequent one or two years. On plans to enter the grid scale batteries or battery energy storage systems (BESS), the chairman said with the need for round-the-clock power supply, the demand for battery storage is set to grow and the company is looking for a technology partner to enter this growing segment.

“Six months from now...for grid stabilization and round the clock power, this is the time the market is going to now open up. So, we are scouting for partnerships here, where we can get the right technology for stationary power storage. We are not going to be into electric vehicles or mobility segment but clearly we are looking at the stationary power side.