Under the pact, an amount of Rs 351.77 crore will be converted into equity shares of JPVL with a face value of Rs 10 each and Rs 280 crore will be written off, JSW Energy said in a BSE filing
More than a third of stocks in top 500 have witnessed reduced coverage
While company aims to double capacity, the acquisition of 1.7GW projects is also seen as earnings accretive
Firm says it is unlikely to opt for new corporation tax rates, expects benefit from MAT credit for the full year to be Rs 40-42 cr
However, EBITDA increased by 5% to Rs 1,048 crore from Rs 998 crore in the corresponding quarter of previous year
If concluded, JSW Energy will acquire a power plant after more than four years. It last purchased two hydro power assets from Jaiprakash Power Ventures for Rs 9,700 crore
Power demand has been very good for the last two-three years and for this year as well, says Prashant
Using Internet of Things, JSW Energy can accurately predict how much power it has to generate and supply to the plant in every 15 minute cycle
The company now plans to bid in solar energy bid rounds
JSW last week announced on the exchanges the termination of Rs 6500-crore deal with JSPL to acquire its 1,000 MW power plant in Raigarh district of Chhattisgarh
Both contenders has offered Rs one cr per Mw upfront. But Sajjan Jindal-led firm recently hiked upfront payment offer to Rs 845 crore against Vedanta's Rs 700 crore
This is the 2nd time it stepped back from a new biz foray
Firm cites MTM loss on JSW Steel holding as reason for a total comprehensive loss of Rs 328.55 cr
JSW Energy's total income during the nine-month period was Rs 7,487.40 crore up from Rs 6,634.88 crore year-ago
JSW had earlier made an offer outside of the IBC process but lenders were not keen to take a steep haircut
The power sector is in stress and we feel consolidation is likely to happen, says JSW Energy joint MD and CEO Prashant Jain
Resurgent Power and JSW Energy were in the fray for the stressed power asset
he shareholders had passed this resolution on July 13, 2017, but raised Rs 5 billion
Lower utilisation at Vijaynagar leads to uncertainty on earnings
Its total revenues for the October-December period grew 6.46 per cent to Rs 20.81 billion from Rs 19.54 billion in Q3 FY17