On Wednesday, JSW Energy reported that it plans to raise Rs 2.5 billion ($30.6 million) through the sale of bonds. The bonds would be maturing in three years.

Reportedly, JSW Energy would pay an annual coupon five basis points higher than the one-year MCLR rate (Marginal Cost of Funds Based Landing Rate) of the State Bank of India (SBI). It currently works out to be 7.75%. The company has invited commitment bids for Thursday from investors and bankers. On Friday, the issue will close for a subscription. The said notes are rated AA by India Ratings.

Founded in 1994, JSW Energy Limited (JSWEL) is a division of JSW Group. It is involved in Electricity Generation and Transmission, Hydroelectricity, Energy Trading, Mining, Power Plant Equipment Manufacturing etc. Headquartered in Mumbai, it has 5681 MW of operating generating capacity.

JSW Group is a multinational conglomerate led by Sajjan Jindal. It is part of the OP Jindal Group. Its businesses include Steel, Ports, Energy, Mining, and Cement, across India, the United States, South America, and Africa.