Promoter JSW Investments on Wednesday sold 1.27 per cent stake in JSW Energy for Rs 717 crore through an open market transaction.

GQG Partners, Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Vitan Investment Trust Plc, and Alliance Trust Plc, among others, were buyers of JSW Energy shares.

According to block deal data available with BSE, JSW Investments sold 2.10 crore shares, which is equivalent to 1.27 per cent stake in JSW Energy.

The shares were settled at an average price of Rs 341.7 per share, taking the total transaction value to Rs 717.57 crore.

Post the transaction, JSW Investments’ stake has come down to 18.95 per cent from 20.22 per cent stake in JSW Energy at the end of June quarter.

Shares of JSW Energy closed 6.66 per cent higher at Rs 368.10 on the BSE.

On Monday, GQG Partners Emerging Markets Equity Fund acquired over 1.19 crore shares of JSW Energy for Rs 411 crore.

Last month, JSW Energy reported over 48 per cent decline in consolidated net profit to Rs 290 crore in April-June quarter due to one-time impact of recent Mitra buyout and non-operating expenses of Ind-Barath 700 MW thermal plant. of. Deal under bankruptcy route.

The company’s consolidated net profit for the quarter ended June 30, 2022 stood at Rs 560 crore.

(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content was auto-generated from a syndicated feed.)

first published: 16 August 2023 | 8:52 pm First

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