JSW ENERGY LIMITED

Shareholders of JSW Energy Limited

JSW Energy Limited is a listed public company and is promoter-controlled. The figures below are taken from the company’s shareholding pattern filed with BSE Limited and the National Stock Exchange of India Limited under Regulation 31 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as at the quarter-end date of 30 June 2026. Total issued and fully paid-up equity was 1,833,482,736 shares of INR 10 each, held by 555,401 holders of record.

Promoter and promoter group: 1,219,819,622 shares, or 66.53 per cent of total share capital, held by 40 promoter and promoter-group entities and individuals. The largest disclosed positions were JSW Investments Private Limited 16.99 per cent, Indusglobe Multiventures Private Limited 13.96 per cent, Siddeshwari Tradex Private Limited 12.60 per cent, JSL Limited 7.93 per cent, Virtuous Tradecorp Private Limited 4.67 per cent and JSW Steel Limited 4.66 per cent. Smaller promoter-group holdings included JSW Steel Coated Products Limited 0.49 per cent, Amba River Coke Limited 0.39 per cent, JTPM Metal Traders Limited 0.78 per cent, JSW Cement Limited 0.14 per cent and South West Mining Limited 0.02 per cent. Promoter individuals disclosed include Tarini Jindal Handa 1.37 per cent, Tanvi Shete 1.37 per cent, Parth Jindal 0.96 per cent and Seema Jajodia 0.16 per cent; Sajjan Jindal is named in the filing as a promoter. Of the promoter holding, 161,995,970 shares (13.28 per cent of the promoter holding, 8.84 per cent of total capital) were pledged or otherwise encumbered.

Public shareholding: 612,620,729 shares, or 33.41 per cent, held by 555,359 holders. Domestic institutions held 16.20 per cent, comprising insurance companies 7.95 per cent, mutual funds 7.42 per cent, provident and pension funds 0.67 per cent, banks 0.07 per cent and alternative investment funds 0.05 per cent. Foreign institutions held 11.41 per cent, comprising Foreign Portfolio Investors Category I 9.86 per cent and Category II 1.55 per cent. Non-institutional public holders accounted for 5.80 per cent. The only public shareholders individually disclosed above 1 per cent were LICI ULIP-Growth Fund 6.82 per cent, SBI Arbitrage Opportunities Fund 3.67 per cent and GQG Partners Emerging Markets Equity Fund 1.81 per cent.

Non-promoter, non-public: 1,042,385 shares (0.06 per cent) held by two employee benefit trusts. In addition, 47,619,047 warrants convertible into equity shares were outstanding and held by JTPM Metal Traders Limited, a promoter-group entity; on a fully diluted basis the promoter and promoter group would hold 67.38 per cent of 1,881,101,783 shares.

Ultimate beneficial ownership

Control sits with the promoter and promoter group, which holds 66.53 per cent of the voting equity. The chain runs through a set of privately held Indian investment and trading companies — principally JSW Investments Private Limited, Indusglobe Multiventures Private Limited, Siddeshwari Tradex Private Limited and Virtuous Tradecorp Private Limited — together with operating companies of the same promoter group such as JSL Limited and JSW Steel Limited. Sajjan Jindal is identified as a promoter in the company’s exchange filings and serves as Chairman & Managing Director. The shareholding pattern does not itself disclose the ownership of the intermediate promoter companies, so the percentage beneficial interest of any individual natural person cannot be derived from it; no further natural person is named here because none can be sourced to an official filing at that level. Verification of the full UBO chain requires the MCA filings of the individual promoter holding companies.

Data availability

Indian listed companies do not publish a complete shareholder register. They file a quarterly shareholding pattern that discloses every promoter and promoter-group entity by name, aggregate public holding by category, and individually only those public shareholders holding more than 1 per cent of capital. Holdings below that threshold are visible only in aggregate. The record behind this page contained only foreign index-fund positions — Vanguard Emerging Markets 28.76 per cent, DFA Emerging Markets Value 10.69 per cent, Schwab EM Equity ETF 2.89 per cent, SPDR Portfolio EM ETF 2.49 per cent and WisdomTree India Earnings Fund 1.73 per cent. Those percentages are irreconcilable with the company’s capital structure: total foreign portfolio investor holding across all 372 registered FPIs was 11.41 per cent at 30 June 2026, so no single passive fund can hold 28.76 per cent. That data was not used.

Directors and officers of JSW Energy Limited

The board composition below is taken from the Corporate Governance Report in the company’s Integrated Annual Report 2025–26 and is stated as at 31 March 2026, with Director Identification Numbers as filed. Nationality is not disclosed in these filings and is shown as “Not disclosed”.

• Sajjan Jindal — Chairman & Managing Director (DIN 00017762); categorised as Promoter, Executive Director. Nationality: Not disclosed.
• Sharad Mahendra — Joint Managing Director & Chief Executive Officer (DIN 02100401); Executive Director and Key Managerial Personnel. Nationality: Not disclosed.
• Parth Jindal — Non-Executive, Non-Independent Director (DIN 06404506). Nationality: Not disclosed.
• Rupa Devi Singh — Non-Executive Independent Director (DIN 02191943). Nationality: Not disclosed.
• Sunil Goyal — Non-Executive Independent Director and designated Lead Independent Director (DIN 00503570). Nationality: Not disclosed.
• Munesh Khanna — Non-Executive Independent Director (DIN 00202521). Nationality: Not disclosed.
• Rajeev Sharma — Non-Executive Independent Director (DIN 00973413). Nationality: Not disclosed.
• Desh Deepak Verma — Non-Executive Independent Director (DIN 09393549). Nationality: Not disclosed.
• Rajiv J Chaudhri — Non-Executive Independent Director (DIN 10134162). Nationality: Not disclosed.
• Ajoy Mehta — Non-Executive Independent Director (DIN 00155180). Nationality: Not disclosed.
• Sanjay Sagar — Additional (Non-Executive, Non-Independent) Director; listed on the company’s own leadership disclosure after the 31 March 2026 reporting date and therefore not included in the annual report board table. Nationality: Not disclosed.

No nominee directors were disclosed. Key Managerial Personnel, which is a statutory category under section 203 of the Companies Act, 2013 and is distinct from board membership, were three in number as at 31 March 2026: Sharad Mahendra, Joint Managing Director & CEO; Chandrasekaran Prabhakaran, Chief Financial Officer; and Monica Chopra, Company Secretary and Compliance Officer.

Recent officer changes

• 1 January 2026 — Pritesh Vinay (DIN 08868022) resigned as Director (Finance) and Chief Financial Officer.
• 1 January 2026 — Chandrasekaran Prabhakaran appointed Chief Financial Officer and Key Managerial Personnel.
• 26 March 2026 — Munesh Khanna (DIN 00202521) re-appointed as a Non-Executive Independent Director for a second consecutive term of five years.

Data availability

Indian company filings distinguish clearly between directors, who are registered with the MCA against a DIN, and executive management, who are not. The officer list held in the record behind this page consisted largely of management rather than board members — a Senior Vice President, a Head of Plant, a Head of Accounts and a Head of Liaisoning — with academic qualifications appended to the names. That list was not used as the board. Only Sharad Mahendra appeared in both, and his board role is stated above as filed. Directors and their DINs can be verified against the MCA21 register; senior management below KMP level is not systematically disclosed.

Group structure of JSW Energy Limited

JSW Energy Limited is the parent of the consolidated group. In the entity list disclosed in Section A of its Business Responsibility and Sustainability Report for FY 2025–26, the company records itself as the “Holding” entity, and no holding company is disclosed above it. Its promoter and promoter-group companies hold 66.53 per cent of the equity as at 30 June 2026 and therefore exercise control, but none of them is reported as a consolidating parent of JSW Energy Limited.

That entity list comprises 226 entities as at 31 March 2026: JSW Energy Limited itself, 223 subsidiaries, one joint venture and one associate. The table below is a partial extract of verified relationships, selected to be representative; it is not the full consolidation scope.

Data availability

The relationships above are taken from the company’s Integrated Annual Report 2025–26 and its Business Responsibility and Sustainability Report, and percentages are the shareholdings stated there as at 31 March 2026. The remaining subsidiaries are predominantly project-level special purpose vehicles, many incorporated during FY 2024–25 and FY 2025–26 and named in numbered series (JSW Renew Energy, JSW Green Energy, JSW Energy PSP, O2 Renewable Energy, TEQ Green Power), together with entities acquired with the O2 Power and Hetero wind portfolios. Holdings in several of these range from about 55 per cent to 100 per cent. The linkage data previously held for this page was a small extract of this structure and should be treated as partial. In its media release of 22 July 2026 the company stated that it had increased its stake in the Toshiba JSW Power Systems joint venture to 10.7 per cent from 2.4 per cent, so the associate percentage above is superseded by later disclosure. Group relationships can be confirmed against the consolidated financial statements and Form AOC-1 in the annual report, and against MCA21 records for each Indian entity.