JSW Energy scales fresh high on report PE investors eyeing stake in unit
The stock price of JSW Energy zoomed nearly 10 per cent to hit a new lifetime high of Rs 432.45 on the BSE on Monday amid reports that private equity firms TPG, Tokyo Electric Power Company (Tepco) and Brookfield are looking to buy a minority stake in its green energy unit JSW Neo Energy.
As per a report by The Economic Times, the three PE investors are in advanced discussions for the proposed deal and JSW Neo could sign a deal with two of these funds in the coming weeks, the report said, citing sources.
The JSW Group is aimimg to raise up to $500 million from this stake sale, which is expected to be used for further expansion in renewable energy, the report added.
