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JSW Energy on Friday said its arm JSW Neo Energy has completed the acquisition of 125 MW of renewable energy assets from Hetero Group for an enterprise value of about Rs 630 crore.
The 125 MW portfolio comprises wind projects located in Andhra Pradesh and Maharashtra and have long term power purchase agreements, a regulatory filing said.
According to the filing, JSW Neo Energy Ltd (JSW Neo), a wholly-owned subsidiary of JSW Energy, has completed the acquisition of 125 MW of renewable energy assets from Hetero Labs Ltd and Hetero Drugs Ltd housed under three Special Purpose Vehicles (SPVs).
The portfolio has a blended tariff of Rs 5.22/KWh and an average remaining plant life of 15 years.
The total locked-in capacity of the company stands at 24.7 GW which consists of a diverse fuel mix and offtakers.
The transaction values the Hetero's portfolio at an enterprise valuation of approximately Rs 630 crore, excluding net current assets and other adjustments under SPAs (Share Purchase ...

The transaction values the Hetero's portfolio at an enterprise valuation of approximately Rs 630 crore, excluding net current assets and other adjustments under SPAs (Share Purchase Agreements)

Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business.
The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner, had on Thursday announced sale of 17.54 crore shares (13.50 per cent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece.
The offer for sale (OFS) included an option to additionally sell up to 8.44 crore shares, or 6.50 per cent equity.
Adani Commodities LLP, a subsidiary of Adani Enterprises Ltd, completed the offer for sale (OFS) for 13.5 per cent stake in Adani Wilmar to non-retail investors on Friday, according to information available from stock exchange filings.
The transaction saw massive demand from a diverse set of marquee international a

Accordingly, the aggregate number of offer shares will be up to 19.50 crore (15.01 per cent) of which, up to 1.95 crore (1.50 per cent) would be available as part of the offer on January 13

Although Meta has clarified that the program is being discontinued only in the US, the implications are being closely watched in India

Xiaomi Pad 7 launched in India. OnePlus 13 along with Sapphire Blue Buds Pro 3 goes on sale. DailyObjects launch new Qi2-certified power banks. Redmi 14C sale. new Google AI features

Neelkanth Mishra, the chief economist of Axis Bank, who is also a member of the Economic Advisory Council to the Prime Minister, on Friday advocated India to tap more in investments from China.
Comparing the situation with Japan of the 1980s, Mishra said India's northern neighbour will be "spewing out" a lot of capital given the very low yield of 1 per cent on government bonds and a negative foreign direct investment.
Mishra, a part-time member of the EACPM, acknowledged the sensitivities involved given the frosty ties between India and its northern neighbour, and also pointed to the "Press Note 3" of 2020 attempting to restrict flows from China.
"...if there are funds, and we already have like China Light and Power owns power plants in India. So it's not that we haven't seen that, but (Chinese) can be a very important source of capital," Mishra said while speaking at a conference organised by the Sebi-promoted NISM here.
Drawing parallels with Japan, Mishra said in the 1980s, Japa

Drawing parallels with Japan, Mishra said in the 1980s, Japan was being blamed for being too aggressive and concerns were also being raised about the country taking away jobs

Union Minister Ashwini Vaishnaw, on Friday, laid the foundation stone for a new assembly line to produce laptops at the Tamil Nadu facility of electronic systems design and manufacturing company Syrma SGS Technology Ltd.
To assemble laptops at its state-of-the-art Chennai facility, Syrma SGS Technology Ltd has partnered with MSI, a global leader in AI-powered personal computers.
The Union Minister of Electronics and Information Technology laid the foundation stone for establishing a new assembly line to produce laptops, marking a significant milestone in the 'Make in India' initiative. Syrma SGS is collaborating with MSI to produce laptops for the Indian market, according to a press release.
During his brief interaction with company officials, Vaishnaw applauded Syrma SGS's efforts in driving the electronics manufacturing ecosystem forward and highlighted the pivotal role of such initiatives in building a self-reliant India.
Syrma SGS Technology Ltd will leverage its high-quality,

The partnership between the two also reflects MSI's commitment to strengthening its presence in India by leveraging Syrma SGS's strong manufacturing capabilities

The meeting saw the participation of more than 70 AIFs, with discussions focused on capital mobilisation and promoting funding for startups in smaller cities

The official said around 35,000 customs cases, involving over around Rs 50,000 crore are currently pending across various courts

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

How long before you get to drive your dream car?

Perhaps you're planning to buy a new car this festive season. you'll have to wait longer than you'd like before you can hit the road and drive off. Watch the video to know why.

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