JSW Energy Limited settles debt of KSK Water Infrastructures Pvt Ltd

JSW Energy Limited had earlier announced about the successful implementation and acquisition of KSK Mahanadi Power Company Limited (KMPCL). Pursuant to this, the Company became the holding company of KMPCL and holds significant indirect ownership in KSK Water Infrastructures Private Limited (KWIPL), which is under the corporate insolvency resolution process.

The proposal for the settlement of debt of KWIPL submitted by the Company has been approved by the Committee of Creditors (CoC) and accordingly, the CoC has approved the withdrawal of the insolvency resolution process of KWIPL. The closure of the transaction shall be subject to the receipt of approval of withdrawal by the National Company Law Tribunal.

Shares of JSW Energy Limited was last trading in BSE at Rs. 500.25 as compared to the previous close of Rs. 499.10. The total number of shares traded during the day was 84588 in over 2142 trades.

The stock hit an intraday high of Rs. 502.80 and intraday low of 489.90. The net turnover during the day was Rs. 41971350.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 KSKMahanadiPowerCompany DebtSettlement KSKWaterInfrastructures