Latest News | 4 Firms Become Wholly-owned Arms of JSW Neo Energy

New Delhi, Mar 16 (PTI) JSW Energy on Wednesday said JSW Renew Energy (Kar) Ltd, JSW Renewable Energy (Dolvi) Ltd, JSW Energy (Kutehr) Ltd and JSW Hydro Energy Ltd have become wholly-owned subsidiaries of JSW Neo Energy Ltd (JSWNEL).

To streamline the renewable portfolio and set up a holding structure to unlock and enhance the shareholders' value, the board at its meeting held on November 25, 2021, had approved the re-organisation of the company's green (renewable) business and grey (thermal) business.

Also Read | Odisha Tourism: Visit the 'Land of Temples' for Perfect Holi 2022 Weekend Getaway.

In a BSE filing, it stated that it has transferred 100 per cent of the equity shares held by JSW Future Energy Ltd in JSW Renew Energy (Kar) Limited and JSW Renewable Energy (Dolvi) Limited, to JSW NeoEnergy Ltd (JSWNEL).

It also transferred 100 per cent of the equity shares held by JSW Hydro Energy Ltd in JSW Energy (Kutehr) Ltd to JSWNEL.

Also Read | Mumbai: Maharashtra Government Hikes Monthly Allowance for Orphans, Homeless Children to Rs 2,500 per Child.

It also transferred 100 per cent of the equity shares held by the company in JSW Hydro Energy Ltd to JSWNEL.

"Consequent to the aforesaid transfers, JSW Renew Energy (Kar) Ltd, JSW Renewable Energy (Dolvi) Ltd, JSW Energy (Kutehr) Ltd and JSW Hydro Energy Ltd have now become wholly-owned subsidiaries of JSWNEL," according to the BSE filing.

The Scheme of Amalgamation of JSW Future Energy Ltd with JSW Neo Energy Ltd has been filed with and is pending before the NCLT, it stated. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)