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The Economic Times
The Economic Times
Akash Podishetti

Block deal: JSW Energy sells Rs 3,150 crore JSW Steel stake to GQG, SBI Mutual Fund

JSW Energy JSW Steel SBI Mutual Fund Axis Securities KSK

JSW Energy has monetised part of its holding in JSW Steel through a bulk deal worth Rs 3,150 crore as the company looks to release capital for its aggressive power generation expansion plans. In an exchange filing, JSW Energy said it sold 25 crore equity shares of JSW Steel on the NSE on May 18 as part of a strategic liquidity release.

Meanwhile, Adani bull investor GQG Partner has picked up about 1.5 crore shares worth Rs 1,890 crore in the same transaction, while SBI Mutual Fund bought about 1 crore shares worth Rs 1,260 crore.

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