India's JSW Energy jumps on getting LoI to acquire KMPCL

JSW ENERGY

14/01/2025 04:30

** Shares of JSW Energy  JSWE.NS  rise as much as 5.2% to 544.80
rupees
** Energy producer gets letter of intent to acquire KSK Mahanadi
Thermal Power Plant (KMPCL) under corporate insolvency
resolution process
    ** KMPCL owns 3.6 GW thermal power plant located in the
state of Chhattisgarh
** In Oct. 2024, Economic Times reported JSW Energy was top
bidder for KMPCL, offering 159.85 bln rupees ($1.9 bln) to
financial creditors and outbidding Adani Power  ADAN.NS 
** JSW later confirmed its offer was the highest, but did not
confirm the value of the bid
    ** Stock on track to snap eight-session losing streak
    ** Avg rating of 12 analysts equivalent of "buy", median PT
is 739.60 rupees - LSEG data
    ** Stock rose 57.1% in 2024
     
    ($1 = 86.5270 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)
((mailto:ashish.chandra@thomsonreuters.com (+91 7982114624))