JSW Energy's Sangita Jindal to sell shares worth Rs 173 cr

Sangita Jindal, one of the promoters of JSW Energy, will tomorrow sell 2.82 crore shares that would fetch at least Rs 173 crore.

After the sale, the public shareholding in the company would come down to 75% as mandated by capital market regulator Securities and Exchange Board of India (Sebi).

More than 2.82 crore shares would be offloaded through the Offer for Sale (OFS) window. The floor price of each scrip is Rs 61.50, JSW Energy said in a regulatory filing.

These shares would make up for about 1.72% stake in the company.

At the end of 2013 March quarter, Sangita Jindal held 2.52% shareholding in the company.

Post share sale, the overall stake held by promoter and promoter group entities would be 75%.

Promoters of JSW Energy held 76.72% stake in the company at the end of March, 2013.

Shares of JSW Energy declined nearly four% to close at Rs 64.85.