- JSW Energy sold 2.5 crore shares of JSW Steel for Rs 3,500 crore in a block deal
- GQG Partners bought 1.5 crore shares at Rs 1,260 each, totaling Rs 1,890 crore
- SBI Mutual Fund acquired 1 crore shares at Rs 1,260 apiece, amounting to Rs 1,260 crore
Stake worth up to Rs 3,150 crore of JSW Steel Ltd. was sold by JSW Energy Ltd., according to NSE block deal data released on Monday. The company divested 2.5 crore shares for an aggregate sum of Rs 3,500 crore. GQG Partners Emerging Markets Equity Fund mopped up 1.5 crore shares for the trade price of Rs 1,260 apiece, which adds up to Rs 1,890 crore.
SBI Mutual Fund purchased 1 crore shares for the trade price of Rs 1,260 per share, representing a sum total of Rs 1,260 crore.
ALSO READ | JSW Energy Sells 2.5 Crore Shares In JSW Steel Via Bulk Deal; Raises Rs 3,150 Crore
The company stated that offloading its partial stake in JSW Steel was to raise capital for its growth plan while consolidating upon its return on capital employed (RoCE). After the transaction, JSW Energy's holding in JSW Steel stood at 4.5 crore equity shares.
Shares of JSW Energy traded slightly higher at around 9:00 a.m. appreciating half a percent in comparison to Friday's close, while JSW Steel shares logged a gain that neared a percent.
This announcement came about a week after JSW Energy reported its fourth quarter results for the financial year ending March 2026, seeing a higher double-digit downturn in net profit, while its revenue jumped 41% on a yearly basis. Margins also expanded for the renewable firm, rising from 37.8% to 50%.
Share price of JSW Energy saw a 2.72% uptick to trade at Rs 529.05 at the end of the day's trade, compared to a 0.03% uptick in the NSE Nifty 50.
ALSO READ | Bitter Forecast: World Sugar Body Warns Of Massive 262,000-Tonne Deficit As El Nino Looms
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.