Little over 75 lakh shares were acquired by Amba River Coke Ltd (ARCL) and JSW Steel Coated Products Ltd (JSWCPL) -- both entities are wholly-owned subsidiaries of JSW Steel.
Sajjan Jindal-led JSW Energy's two promoter entities have acquired shares worth nearly Rs 89 crore from another promoter of JSW Steel as part of meeting certain regulatory norms.
Little over 75 lakh shares were acquired by Amba River Coke Ltd (ARCL) and JSW Steel Coated Products Ltd (JSWCPL) -- both entities are wholly-owned subsidiaries of JSW Steel.
According to a filing made by JSW Energy to the BSE, these shares were acquired from JSW Steel in order to meet certain regulatory requirement with regard to captive power plants.
Both entities acquired the shares to "align the percentage of their equity holding in JSW Energy with their respective power consumption from Unit 3 and Unit 4 of the power plant of JSW Energy at Ratnagiri, to meet eligibility criteria for captive power plant status," the filing said.
ARCL acquired 39.36 lakh shares valued at Rs 47.23 crore while JSWCPL acquired 34.67 lakh shares worth Rs 41.60 crore. The shares were bought at a price of Rs 120 apiece.
Post transaction, JSW Steel's stake has declined to 5.58 percent from 6.03 percent in JSW Energy. The shareholding of ARCL and JSWCPL have increased to 0.35 percent and 0.27 percent, respectively. Shares of JSW Energy rose nearly one percent to close at Rs 119.60 per scrip on the BSE.
JSW Energy stock price
On April 01, 2015, JSW Energy closed at Rs 119.60, up Rs 1.15, or 0.97 percent. The 52-week high of the share was Rs 126.40 and the 52-week low was Rs 50.85.
The company's trailing 12-month (TTM) EPS was at Rs 6.01 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 19.9. The latest book value of the company is Rs 42.70 per share. At current value, the price-to-book value of the company is 2.80.
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