JSW Energy today said one of its promoter entities, Sun Investments, has pledged 6.78% stake of the company.
However, the financial details were not disclosed.
Sun Investments pledged 540,000 shares of JSW Energy on December 28, according to a regulatory filing. These 540,000 shares have been pledged in favour of L&T Finance, the filing said. Sun Investments Private Ltd's shareholding in the company stood at 16.52% as on December 28, 2011.
At the end of September quarter, Sun Investments Private Ltd held 9.73% stake in the company, out of which 3.50% shareholding was pledged. An energy company, JSW Energy is part of diversified JSW Group. The firm expects to have a power generation capacity of over 12,000 MW by 2016. Shares of the company fell nearly four% to Rs 38.80 in late afternoon trade on the BSE.