JSW Energy sells JSW Steel shares worth Rs 3,150 crore via bulk deal

JSW Energy has sold 2.5 crore shares in JSW Steel for Rs 3,150 crore through a bulk deal on the NSE. The company said the move is part of a strategic liquidity release aimed at strengthening capital allocation and growth plans

New Delhi: 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 on May 18.

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

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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.