JSW Energy jumps as its arm to acquire 12 SPVs of Mytrah Energy
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JSW Energy is currently trading at Rs. 228.55, up by 6.35 points or 2.86% from its previous closing of Rs. 222.20 on the BSE.
The scrip opened at Rs. 225.30 and has touched a high and low of Rs. 233.60 and Rs. 222.85 respectively. So far 57318 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 369.00 on 05-Sep-2022 and a 52 week low of Rs. 182.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 252.00 and Rs. 220.65 respectively. The current market cap of the company is Rs. 37843.99 crore.
The promoters holding in the company stood at 74.66%, while Institutions and Non-Institutions held 15.23% and 10.12% respectively.
JSW Energy’s wholly-owned subsidiary -- JSW Neo Energy (JSWNEL) has agreed to acquire entire equity of 12 special purpose vehicles of Mytrah Energy (India) (MEIPL). In August 2022, JSWNEL had agreed to acquire a portfolio of 1,753 MW of renewable energy generation capacity from MEIPL comprising 17 SPVs and 1 Ancillary SPV.
The acquisition would help the company achieve a holistic completion of the transaction by allowing one of the 17 SPVs i.e. Mytrah Vayu (Sabarmati), which owns a 250 MW wind power plant, to have better exclusive holding rights to certain land parcels used by it. The transaction is expected to be completed by April 30, 2023 subject to fulfilment of conditions precedent set out in the SPA (share purchase agreement). The cumulative consideration payable for these 12 SPVs is Rs 1.82 crore.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
