The Competition Commission of India (CCI) has granted approval for JSW Energy Limited to acquire 100% shareholding in KSK Mahanadi Power Company Limited.
JSW Energy Limited (JSWEL), a publicly listed entity, operates across various segments of the power sector, including power generation, transmission, trading, coal mining, and power equipment manufacturing. The company is known for its strong operations, corporate governance, and strategic capital management.
JSW Thermal Energy One Limited (JSW Thermal), a wholly owned subsidiary of JSWEL, was established in October 2024 to facilitate the acquisition. Currently, JSW Thermal has no independent business operations.
KSK Mahanadi Power Company Limited (KMPCL), incorporated in 2009, is engaged in power generation and sales. It operates a thermal power plant with a capacity of 6 x 600 MW in the Janjgir-Champa district of Chhattisgarh. Presently, KMPCL is undergoing the Corporate Insolvency Resolution Process (CIRP).
As part of the approved transaction, JSWEL, through JSW Thermal, will acquire complete ownership of KMPCL, which is currently undergoing CIRP under the Insolvency and Bankruptcy Code, 2016.