JSW Energy sells 2.5 crore JSW Steel shares for Rs 3,150 cr via bulk deal

Synopsis

JSW Energy on Monday said it sold 2.5 crore equity shares in JSW Steel through a bulk deal on the NSE, raising Rs 3,150 crore. Following the transaction, JSW Energy’s remaining holding in JSW Steel stands at 4.5 crore equity shares, according to a regulatory filing.

JSW Energy on Monday announced the sale of 2.5 crore equity shares in JSW Steel for Rs 3,150 crore through a bulk deal on the National Stock Exchange of India Ltd.

Post-transaction, the company's balance holding is 4,50,38,350 equity shares of JSW Steel Ltd, a regulatory filing said.

According to the filing, the company has divested 2,50,00,000 equity shares (face value Re 1 each) of JSW Steel Ltd through a bulk deal on the National Stock Exchange of India Ltd on May 18, as part of a strategic liquidity release, realising gross proceeds of Rs 3,150 crore.

The monetisation of a part of the shareholding in JSW Steel Ltd not only releases capital for pursuing the company's growth strategy but also improves return on capital employed, reinforcing the company's commitment to disciplined capital allocation and long-term value creation for shareholders, it added.