JSW Energy Ltd, the energy division of Rs 11,000-crore JSW Group, has plans to raise as much as $1 billion (about Rs 4,000 crore) through its proposed IPO.

The company intends to utilize issue proceeds for executing its plans to step up power generation capacity to 12,000 MW from the present 800 MW.

A company official, who is close to latest development, has informed that JSW Energy has already started "working on the initial public offering" and the company is expected to seek regulatory approval this month.

It should be noted that the company had earlier planned for its IPO, but later scrapped fundraising due to the global meltdown.

Sources reported that, JM Financial Consultants Pvt. Ltd. and Kotak Mahindra Capital Co are among banks that will arrange the sale.