 "Authum Investment sells JSW Energy shares for Rs 552 cr via open market")
Authum Investment & Infrastructure on Monday offloaded shares of JSW Energy for Rs 552 crore through an open market transaction.
Authum is a BSE-listed and registered NBFC in the business of investment in shares and securities.
According to the bulk deal data available with the BSE, Authum Investment & Infrastructure sold 1,60,00,000 shares, amounting to a 0.97 per cent stake in JSW Energy.
The shares were disposed of at an average price of Rs 345 apiece, taking the transaction size to Rs 552 crore.
Meanwhile, GQG Partners Emerging Markets Equity Fund acquired more than 1.19 crore shares of JSW Energy at the same price, taking the aggregate transaction value to Rs 411 crore.
Details of the other buyers could not be ascertained.
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Shares of JSW Energy gained 1 per cent to close at Rs 345.10 apiece on the BSE.
Last month, JSW Energy reported over 48 per cent decline in consolidated net profit to Rs 290 crore in the April-June quarter due to the one-time impact of non-operational expenses of the recent Mytrah buyout and Ind-Barath 700 MW thermal plant deal under the insolvency route.
The consolidated net profit of the company stood at Rs 560 crore in the quarter ended June 30, 2022.