Virya Infrapower is engaged in the business of development of renewable projects in India and its related activities.
The acquisition provides the opportunity to acquire a ready renewable power site with necessary infrastructure to achieve accelerated project development.
The transaction, valued at an enterprise value of Rs 7.54 crore, involves the acquisition of 100% of the equity shares of Virya Infrapower. The deal was closed on the same day the Share Purchase Agreement (SPA) was signed. The acquisition is subject to post-closing adjustments as specified in the SPA and will be settled with 100% cash consideration.
Virya Infrapower has become a step-down subsidiary of the company.
The official announcement was made on 12 March 2025, after the market hours.
JSW Energy is primarily engaged in the business of generation of power, with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh), and Salboni (West Bengal).
The company’s consolidated net profit declined 32.2% to Rs 157.45 crore in Q3 FY25 as compared with Rs 232.24 crore in Q3 FY24. Total income fell marginally 0.8% to Rs 2,640.04 crore in Q3 FY25 as compared with Rs 2,661.41 crore in Q3 FY24.
The counter slipped 1.08% to currently trade at Rs 509.95 on the BSE.