JSW Energy completes additional stake buy in Toshiba JSW Power Systems for INR 150 Cr
JSWENERGY · price
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On the reaction day the stock moved 0.2 pts more than Nifty Midcap 150 and 0.1 pts less than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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JSW Energy has completed buying additional shares in Toshiba JSW Power Systems (TJPS) from Toshiba Corporation for INR 150 Cr cash. Its stake in TJPS rose from 4.6 percent to 20.7 percent non-diluted and from 2.4 percent to 10.7 percent fully diluted. TJPS, a JV with Toshiba and JSW Steel, makes large steam turbine generators up to 1,000 MW in Chennai. JSW Energy has already placed 1,600 MW of turbine-generator orders with TJPS for its thermal expansion.
Strengthens supply chain access to critical turbine equipment and supports thermal capacity expansion. Positive for long-term execution visibility.