Energy stock jumps 7.6% after 3 Private equity investors plan to buy a stake in its subsidiary company
On Monday’s trade, the shares of India’s largest energy company rose 7.6 percent to an all-time high of Rs 424.90 a share on reports that three private equity investors are in advanced talks to buy a minority stake in JSW Neo Energy.
At 11:30 a.m., JSW Energy (NS:) Ltd shares were trading at Rs 418.65 per share, up Rs 23.80 or 6.03 percent from the previous close price on the National Stock Exchange.
Private equity investors TPG, Tokyo Electric Power Company, and Brookfield are in advanced talks to purchase a minority share in JSW Neo Energy, a subsidiary of publicly traded JSW Energy. The JSW Group aims to raise up to $500 million from this stake sale, which will most likely be used to expand its renewable energy business. Moneycontrol reported.
In addition, JSW Energy has plans to transfer its existing hydro energy projects into subsidiaries under JSW Neo Energy. This strategic change intends to simplify its renewables portfolio, develop an efficient financing structure, and unleash shareholder value.
Recently, JSW Neo Energy has agreed to acquire a portfolio of 1,753 MW of Renewable Energy generation capacity from Mytrah Energy for the value of Rs 10,530 crores. This transaction includes 1.33 GW of wind energy capacity and 422 MW of solar energy capacity, both of which are predominantly situated in southern, western, and central India.
The company’s revenue has declined by 3 percent yearly, from Rs 3,026 crore in Q1FY23 to Rs 2,927 crore in Q1FY24. During the same period, Net profit declined by 48 percent from Rs 551 to Rs 288 crore.
For the recent financial year, JSW energy reported a net profit margin of 14.13 percent and an operating margin of 25.62 percent.
According to the latest shareholding pattern, the promoters hold 74.66 percent of the company, while foreign institutional investors hold 5.18 percent and domestic institutional investors hold a 10.32 percent stake.
JSW Energy Ltd. is engaged in power generation, transmission, power trading, and mining, and equipment manufacturing segments.
Written by Omkar Chitnis
The post Energy stock jumps 7.6% after 3 Private equity investors plan to buy a stake in its subsidiary company appeared first on Trade Brains.
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On Monday’s trade, the shares of India’s largest energy company rose 7.6 percent to an all-time high of Rs 424.90 a share on reports that three private equity investors are in advanced talks to buy a minority stake in JSW Neo Energy.
At 11:30 a.m., JSW Energy (NS:) Ltd shares were trading at Rs 418.65 per share, up Rs 23.80 or 6.03 percent from the previous close price on the National Stock Exchange.
Private equity investors TPG, Tokyo Electric Power Company, and Brookfield are in advanced talks to purchase a minority share in JSW Neo Energy, a subsidiary of publicly traded JSW Energy. The JSW Group aims to raise up to $500 million from this stake sale, which will most likely be used to expand its renewable energy business. Moneycontrol reported.
In addition, JSW Energy has plans to transfer its existing hydro energy projects into subsidiaries under JSW Neo Energy. This strategic change intends to simplify its renewables portfolio, develop an efficient financing structure, and unleash shareholder value.
Recently, JSW Neo Energy has agreed to acquire a portfolio of 1,753 MW of Renewable Energy generation capacity from Mytrah Energy for the value of Rs 10,530 crores. This transaction includes 1.33 GW of wind energy capacity and 422 MW of solar energy capacity, both of which are predominantly situated in southern, western, and central India.
The company’s revenue has declined by 3 percent yearly, from Rs 3,026 crore in Q1FY23 to Rs 2,927 crore in Q1FY24. During the same period, Net profit declined by 48 percent from Rs 551 to Rs 288 crore.
For the recent financial year, JSW energy reported a net profit margin of 14.13 percent and an operating margin of 25.62 percent.
According to the latest shareholding pattern, the promoters hold 74.66 percent of the company, while foreign institutional investors hold 5.18 percent and domestic institutional investors hold a 10.32 percent stake.
JSW Energy Ltd. is engaged in power generation, transmission, power trading, and mining, and equipment manufacturing segments.
Written by Omkar Chitnis
The post Energy stock jumps 7.6% after 3 Private equity investors plan to buy a stake in its subsidiary company appeared first on Trade Brains.
Read More
