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Outcome of board meeting of JSW Energy

Capital Market 

Held on 25 November 2021

The Board of JSW Energy at its meeting held on 25 November 2021 has approved the re-organisation of the Company's Green (Renewable) Business and Grey (Thermal) Business. Accordingly, to facilitate growth and unlock value for the shareholders, the renewable energy business will be housed under 'JSW Neo Energy' , a wholly owned subsidiary of the Company, while the thermal business will continue to be housed in the Company.

The following steps would be undertaken to effectuate the re-organisation (in no particular order / sequential manner):

1. Transfer of 100% of the equity shares held by JSW Future Energy Limited in (i) JSW Renew Energy (Kar) and (ii) JSW Renewable Energy (Dolvi), to JSW Neo Energy.

2. Merger of JSW Future Energy with JSW Neo Energy under a Scheme of Amalgamation to be approved by NCLT, wherein all the assets and liabilities of JSW Future Energy will be transferred to JSW Neo Energy.

3. Transfer of 100% of the equity shares held by JSW Hydro Energy in JSW Energy (Kutehr) to JSW Neo Energy.

4. Transfer of 100% of the equity shares held by the Company in JSW Hydro Energy to JSW Neo Energy.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, November 25 2021. 17:10 IST