JSW Energy puts GMR Kamalanga buy on hold
Sajjan Jindal-backed JSW Energy has put its GMR Kamalanga acquisition on hold as a result of Covid-19 related uncertainties.
“The transaction has been put on hold given the ongoing uncertainty and will be revisited once the situation normalises,” the company said in a statement to the exchanges.
JSW Energy, in October, had announced the acquisition of GMR Kamalanga Energy Ltd for ₹5,321 crore. It had said the deal would increase its power generation capacity at a time when energy requirements were on the rise. GMR Kamalanga is a subsidiary of GMR Energy Ltd and operates a 1,050-MW thermal power plant in Odisha.
