Shares of JSW Energy and Jaiprakash Power Ventures advanced as much as 1.7 and 3.3 per cent each respectively after the Competition Commission of India (CCI) approved Sajjan Jindal-promoted JSW Energy's purchase of the 500-MW Bina thermal power plant from Jaiprakash Power Ventures.
Under the deal, announced in July, JSW Energy will buy 100 per cent stake in the special purpose vehicle (SPV) - Bina Power Supply Ltd (BPSL) - to which 500 MW power plant is to be transferred.
The plant, which has two units of 250 MW generation capacity each, is located at Bina in Madhya Pradesh.
The Competition Commission of India (CCI) has approved the proposed acquisition, as per latest information available on the regulator's website.
In July, JSW Energy informed BSE that it has agreed to acquire 500 MW(2X250 MW) thermal power plant located at Bina.
The Bina Power Plant deal is pegged at Rs 2,700 crore.
JSW Energy shares ended 1.3 per cent lower at Rs 79 and Jaiprakash Power Ventures ended 1 per cent lower at Rs 4.50.
(With inputs from Press Trust of India)
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