JSW Energy has executed documents to acquire from Jindal Steel & Power (JSPL) and other shareholders, 100% stake in Everbest Steel and Mining Holdings (SPV). The board of directors of Jindal Steel & Power and Jindal Power (JPL) have approved the transfer of the 1000 MW (4x250 MW) thermal power project located at Village Tamnar, District Raigarh in the state of Chhattisgarh into the target SPV as a going concern through a scheme of arrangement under Companies Act, 1956. The target SPV is currently 99% owned by JSPL.
Subsequent to the receipt of shareholders and other statutory approvals (including approval from the Competition Commission of India (CCI), the scheme of arrangement being made effective and subject to other terms and conditions agreed between JSW Energy and JSPL, JSW Energy proposes to acquire 100% of the securities of the target SPV held by JSPL and other shareholders.
The consideration payable by JSW Energy is linked to an enterprise value of Rs 4,000 crore plus net currents assets, which would be increased to Rs 6,500 crore if the 1,000 MW power plant is completely secured for fuel and enters into a long term PPA providing certain minimum return threshold. The transaction also contemplates payment of an interest bearing advance of Rs 500 crore pursuant to the receipt of approvals from the shareholders of the JSW Energy & JSPL and the CCI.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: