JSW Energy sells stake in JSW Steel, raises Rs 3,150 crore

JSW Energy Ltd on Monday said it has raised Rs 3,150 crore through sale of its partial stake in JSW Energy via a bulk deal on the National Stock Exchange of India.

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The company said part of a strategic liquidity release.

The monetisation of a part of the shareholding in JSW Steel not only releases capital for pursuing Company’s growth Strategy but also improves Return on Capital Employed for the Company reinforcing the Company’s commitment to disciplined capital allocation and long-term value creation for shareholders, JSW Energy said.

Prior to the sale, JSW Energy held 7,00,38,350 shares or 2.86 per cent stake in JSW Steel. Now it will hold 4,50,38,350 shares.

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