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JSW Energy completes acquisition of Ind-Barath Energy for Rs 1,047 crore

Now, the company holds 95 percent equity shares of Ind-Barath Energy (Utkal) Ltd and the secured financial creditors collectively hold the balance 5 percent, as per the terms of the resolution plan.

December 28, 2022 / 06:56 PM IST

JSW Energy on Wednesday said it has completed the acquisition of 700 MW Ind-Barath Energy (Utkal) for Rs 1,047.60 crore through insolvency proceedings.

"Pursuant to the NCLT (National Company Law Tribunal) approval order, the resolution plan has now been implemented and the acquisition of Ind-Barath Energy (Utkal) Ltd is complete. The resolution amount of Rs 1,047.60 crore has been paid," a BSE filing said.

Now, the company holds 95 percent equity shares of Ind-Barath Energy (Utkal) Ltd and the secured financial creditors collectively hold the balance 5 percent, as per the terms of the resolution plan.

Consequent to this transaction, Ind-Barath Energy (Utkal) Ltd has become a subsidiary of JSW Energy.