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Shares of JSW Energy jumps as its arm set to acquire 12 SPVs of Mytrah Energy
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Last Updated: 29th March 2023 - 10:03 pm
The transaction is expected to be completed by April 30.
JSW Neo Energy
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.
Share price movement
Today, the stock opened at Rs 225.30, with a high and low of Rs 239.80 and Rs 222.85. The stock previously closed at Rs 222.20. The stock closed trading today at Rs 236.70, up by 6.53%. . The stock has a 52-week high of Rs 369 and a 52-week low of Rs 182. The company has a market capitalisation of Rs 38,929.47 crore. Last one week high and low of the scrip stood at Rs 675.55 and Rs 655.75 respectively.
The promoters holding in the company stood at 45.19%, while Institutions and Non-Institutions held 35.89% and 18.92% respectively.
Company profile
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.
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