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JSW Energy Sells 25 Million Shares of JSW Steel in Bulk Deal

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JSW Energy (NSE:JSWENERGY, BOM:533148) has sold 25 million equity shares of face value 1 rupee each of JSW Steel (NSE:JSWSTEEL, BOM:500228) for 31.5 billion Indian rupees, according to a Monday filing to the Indian stock exchanges.

The transaction was conducted as a bulk deal on the National Stock Exchange of India on Monday, as part of a strategic liquidity release, the company said.

Following the share sale, the company's balance holding is around 45 million equity shares of JSW Steel.

"The monetisation of a part of the shareholding in JSW Steel Limited not only releases capital for pursuing the company's growth strategy but also improves return on capital employed for the company," JSW Energy said.

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