JSW Energy shares surged more than 7 per cent on the NSE (National Stock Exchange) after the company's wholly-owned subsidiary, JSW Neo Energy, signed a definitive agreement to acquire O2 power, a renewable energy platform, jointly established by Swedish asset manager EQT Partners and Singapore’s Temasek Holdings, according to the company's exchange filing.
The shares of JSW energy went on to touch the day high level of Rs 674.00 per share on NSE (national stock exchange), after hitting the opening bell at Rs 651.95 per share on the Indian bourses.
JSW energy shares were trading around Rs 649.25 per share on the Indian bourses, with a upturn of 3.75 per cent amounting to a Rs 23.45 per share on the Indian bourses.
CCI approval will mark the deal as finalised
According to JSW Energy, the deal, which involves the purchase of O2 Power Midco Holdings and O2 Energy SG, is contingent upon the Competition Commission of India's (CCI) approval as well as other customary approvals typical of a deal of this magnitude.
For FY24, O2 entities reported a total operating revenue of Rs 538 crore.
JSW Energy Q2 FY25
In Q2 FY25, which ended in September 2024, private power producer JSW Energy reported a flat net profit of Rs 853.25 crore, which is attributable to the company's owners. The company claimed that a two-part tariff revision in the hydro segment and reduced merchant sales spreads offset the earnings.
In comparison to the Rs 850.16 crore reported a year earlier, JSW Energy's consolidated net profit for the current quarter was slightly higher at Rs 853.25 crore.
The power producer's operating revenue decreased by approximately 1 per cent during the same time period, reaching Rs 3,237.66 crore.
