Shares of JSW Energy jumps as its arm set to acquire 12 SPVs of Mytrah Energy

Shares of JSW Energy jumps as its arm set to acquire 12 SPVs of Mytrah Energy

by 5paisa Research Team Last Updated: Mar 29, 2023 - 10:03 pm 985 Views
Listen icon

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.    

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Trust Fintech IPO Subscribed 108.63 times

Trust Fintech IPO is book-built issue of ₹63.45 crores, consisting entirely of fresh issue shares totalling 62.82 lakh. Trust Fintech IPO commenced its subscription period on March 26, 2024, & concludes today, March 28, 2024.

Aspire & Innovative IPO Subscribed 15.17 times

Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024.

Blue Pebble IPO Subscribed 56.32 times

Blue Pebble IPO, valued at ₹18.14 crores, comprises fresh issue of 10.8 lakh shares. Commencing subscription on March 26, 2024, Blue Pebble IPO is set to conclude on March 28, 2024. Allotment process is scheduled to be finalized by Monday, April 1, 2024. Following this, IPO is slated to debut on NSE SME, with tentative listing date of Wednesday, April 3, 2024.