JSW Energy: JSW Investments sells 1.27% of its ownership for Rs 717 crore, while GQG purchases Rs 351 crore shares

JSW Investments, the company's promoter, sold 1.27% of its ownership in JSW Energy for Rs 717.57 crore via open market transactions on August 16.

GQG Partners Emerging Market Fund, a US-based boutique investment firm, paid Rs 351 crore for 1 crore shares, or a 0.6% ownership, in the power producer at Rs 341.70 per share.

JSW Energy shares were purchased by the Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc, and Alliance Trust Plc.

According to BSE bulk trade data, JSW Investments offloaded 2.10 crore shares, representing a 1.27% stake in JSW Energy.

The shares were sold for an average of Rs 341.7 each. Following the deal, JSW Investments' stake in JSW Energy fell to 18.95% from 20.22% at the end of the June quarter.

On August 14, QG Partners purchased about 1.19 lakh shares of JSW Energy at Rs 345 each, bringing the total transaction value to Rs 411 crore. The shares were sold at an average price of Rs 345 per share, bringing the total transaction value to Rs 552 crore.

Source: Media Reports