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.

Listen to this article

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.

Latest

Temasek-backed Sembcorp Green Infra gets SEBI nod for IPO

The proposed IPO comprises a fresh issue of Equity...

Chennai to Host Plumbing Conference, after 9 years

The conference will bring together water, plumbing, sanitation and...

Bodhi Tree Systems to invest $180 mln in A2B

The investment will help scale A2B nationally and across...

Retail inflation crosses 6% in October

“October's inflation print was less a surprise than a...

Newsletter

Don't miss

Temasek-backed Sembcorp Green Infra gets SEBI nod for IPO

The proposed IPO comprises a fresh issue of Equity...

Chennai to Host Plumbing Conference, after 9 years

The conference will bring together water, plumbing, sanitation and...

Bodhi Tree Systems to invest $180 mln in A2B

The investment will help scale A2B nationally and across...

Retail inflation crosses 6% in October

“October's inflation print was less a surprise than a...

Brazil’s WEG to invest Rs 2,000 crore in Dharmapuri

The company had earlier evaluated multiple states and following...

Temasek-backed Sembcorp Green Infra gets SEBI nod for IPO

The proposed IPO comprises a fresh issue of Equity Shares aggregating up to Rs 3,750 crore, with no Offer for Sale (OFS) component. Sembcorp proposes...

Chennai to Host Plumbing Conference, after 9 years

The conference will bring together water, plumbing, sanitation and infrastructure experts, along with key stakeholders from across India’s construction sector. The conference will focus...

Bodhi Tree Systems to invest $180 mln in A2B

The investment will help scale A2B nationally and across the globe. However, how much stake  Bodhi Tree will take was not disclosed. A2B has a...