Analysts see up to 45% upside in JSW Energy post GMR Kamalanga acquisition

GMR Kamalanga Energy (GKEL) presently owns and operates a 1,050 MW (3 x 350 MW) coal-based thermal power plant located at Dhenkanal, District Kamalanga in Odisha.

Shares of JSW Energy jumped nearly 7 per cent on Tuesday, a day after the company said it has signed a share purchase agreement with GMR Energy Limited (GEL) to acquire 100 per cent stake in its subsidiary - GMR Kamalanga Energy (GKEL) - for a total consideration of up to Rs 5,321 crore. 

"Post-acquisition, the total installed power generation capacity of the Company will increase to 5,609 MW. This will expand the Company’s presence in the Eastern Region of the country and further diversify its fuel mix and offtake arrangements," the company said in its press release. 

GMR Kamalanga