JSW Energy rises on completing acquisition of Ind-Barath Energy
JSW Energy is currently trading at Rs. 286.55, up by 2.95 points or 1.04% from its previous closing of Rs. 283.60 on the BSE.
The scrip opened at Rs. 285.00 and has touched a high and low of Rs. 290.10 and Rs. 284.95 respectively. So far 36683 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. 293.55 and Rs. 245.65 respectively. The current market cap of the company is Rs. 46643.00 crore.
The promoters holding in the company stood at 74.69%, while Institutions and Non-Institutions held 15.43% and 9.89% respectively.
JSW Energy has completed the acquisition of 700 MW Ind-Barath Energy (Utkal) for Rs 1,047.60 crore through insolvency proceedings. Pursuant to the NCLT (National Company Law Tribunal) approval order, the resolution plan has now been implemented and the acquisition of Ind-Barath Energy (Utkal) is completed. The resolution amount of Rs 1,047.60 crore has been paid.
Now, the company holds 95 per cent equity shares of Ind-Barath Energy (Utkal) and the secured financial creditors collectively hold the balance 5 per cent, as per the terms of the resolution plan. Consequent to this transaction, Ind-Barath Energy (Utkal) has become a subsidiary of JSW Energy.
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.
