JSW Energy In Talks To Acquire GMR’s Thermal Power Plant In Odisha

JSW Energy Ltd. and GMR Infrastructure Ltd. have entered into exclusive discussions regarding the sale of latter's thermal power plant in Odisha, the companies informed the stock exchanges on Monday.

"JSW Energy has entered into exclusive discussions with GMR Energy Ltd. for potential acquisition of its subsidiary, GMR Kamalanga Energy Ltd., which owns and operates a 1050 MW thermal power plant in Odisha," JSW Energy said in a BSE filing on Monday.

Meanwhile, in a separate filing, GMR Infrastructure said GMR Energy, a subsidiary of the company has entered into exclusive discussions with JSW Energy for potential divestment of its entire stake in its subsidiary company GMR Kamalanga Energy.

Both the companies, however, did not disclose the financial details of the deal. "Both parties intend to conclude these discussions in an expeditious manner," JSW Energy said.

On Monday, JSW Energy shares rose 1.26 percent to Rs 60.10 apiece on the BSE while GMR Infrastructure’s fell 0.91 percent to Rs 16.40 per share. The benchmark Sensex shed 0.38 percent to end the day at 37,531.98 points.