GQG Partners Sells JSW Energy Shares for Rs 676 Cr

New Delhi, Dec 9 (PTI) US-based investment firm GQG Partners on Tuesday sold shares of JSW Energy for Rs 676 crore through an open market transaction.

NRI Rajiv Jain-backed GQG Partners through its affiliate GQG Partners Emerging Markets Equity Fund offloaded over 1.52 crore shares (1,52,40,805) representing a 0.87 per cent stake in JSW Energy, as per the bulk deal data available on the BSE.

The shares were disposed of at an average price of Rs 444 apiece, taking the transaction value to Rs 676.69 crore.

After the latest transaction, GQG Partners' holding in JSW Energy has declined to 0.92 per cent from 1.79 per cent.

Details of the buyers of JSW Energy's shares could not be ascertained on the exchange.

Shares of JSW Energy slipped by 0.44 per cent to close at Rs 451.60 apiece on the BSE.

In October, JSW Energy reported its consolidated net profit declined over 17 per cent year-on-year to Rs 705 crore in the September quarter, weighed down by a surge in expenses.

It had clocked a net profit (profit after tax or PAT) of Rs 853 crore in the second quarter of the preceding 2024-25 financial year, the JSW Group entity said in an exchange filing.

In the latest July-September period, the company registered a 59 per cent year-on-year rise in total revenues to Rs 5,361 crore from Rs 3,459 crore in the year-ago period.