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Promoter JSW Investments on Wednesday pared a 1.27 per cent stake in JSW Energy for Rs 717 crore through open market transactions.
GQG Partners, Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc, and Alliance Trust Plc, among others, were the buyers of the shares of JSW Energy.
According to the block deal data available with BSE, JSW Investments offloaded 2.10 crore shares, amounting to a 1.27 per cent stake in JSW Energy.
The shares were disposed of at an average price of Rs 341.7 apiece, taking the aggregate transaction value to Rs 717.57 crore.
Post the transaction, the shareholding of JSW Investments reduced to 18.95 per cent from a 20.22 per cent stake in JSW Energy at the end of the June quarter.
Shares of JSW Energy rose 6.66 per cent to close at Rs 368.10 apiece on BSE.
On Monday, GQG Partners Emerging Markets Equity Fund acquired more than 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 the April-June quarter due to the one-time impact of non-operational expenses of the recent Mytrah buyout and Ind-Barath 700 MW thermal plant deal under the insolvency route.
The consolidated net profit of the company stood at Rs 560 crore in the quarter ended June 30, 2022.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 16 2023 | 8:52 PM IST
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