JSW Energy shares in focus as subsidiary acquires Virya Infrapower

dsa. The shares of JSW Energy will remain in focus on Thursday, March 13, after the company’s subsidiary JSW Neo Energy has entered into a share purchase agreement (SPA) for a 100% stake acquisition of Virya Infrapower Private Limited.Post this acquisition, Virya Infrapower will become a step-down subsidiary of the company.

“We write to inform you that JSW Neo Energy Limited (JSWNEL), a wholly-owned subsidiary of the Company, has entered into a Share Purchase Agreement today and acquired 100% shares of Virya Infrapower Private Limited (“Target Company”). Consequent to the above, Virya Infrapower Private Limited has become a step-down subsidiary of the Company,” said the company in a regulatory filing.The company informed that the transaction is valued at an enterprise value of Rs 7.



54 crore, subject to post-closing adjustments as outlined in the SPA.The acquisition provides the company with an opportunity to acquire a ready renewable power site with the necessary infrastructure to achieve accelerated project development. Virya Infrapower, incorporated in 2014, is engaged in the business of development of renewable projects in India and its related activities.

JSW Energy share price historyIn the past year, the shares of JSW Energy rose by 1.30%. However, on a year-to-date (YTD) basis, it declined by 19.

93%. Over the last six months, the price fell by 32.19%, while the three-month period recorded a decrease of 24.

78%. Meanwhile, the past month saw a price increase of 10.10%.

JSW Energy shares closed flat at Rs 515.50 on the BSE on Wednesday.Also read: IndusInd's top two executives sold Rs 157 crore of shares in 2023, 2024(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.

These do not represent the views of The Economic Times).