JSW Energy Ltd. has completed the acquisition of KSK Mahanadi Power Company Ltd. (KMPCL) pursuant to the Resolution Plan submitted by the company under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016.
The Resolution Plan has now been implemented, and consequently, KMPCL has become a subsidiary of the company. As per the terms of the resolution plan, the company will hold 74 percent of the equity shares of KMPCL and the secured financial creditors collectively hold the balance 26 percent of equity shares. The transaction is for a total Resolution Amount of INR 16,084.08 crore.
Commenting on the development, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, “We are pleased to announce…
