The Competition Commission of India (“CCI”), vide Press Release No. 107/2024-25[1] dated March 04, 2025, approved the proposed acquisition of 100% (hundred percent) shareholding in KSK Mahanadi Power Company Limited (“KMPCL”) by JSW Energy Limited (“JSWEL”). The acquisition shall be structured through JSW Thermal Energy One Limited (“JSW Thermal”). Upon completion of this acquisition, JSWEL (through JSW Thermal) shall acquire full ownership of KMPCL.
The entities involved in the proposed acquisition include:
- JSWEL, a publicly listed company with a diverse presence across power generation, transmission, and trading. JSWEL is involved in coal mining and the manufacturing of power equipment. With a strong track record of operational excellence, robust corporate governance, and strategic capital allocation, JSWEL is positioned as a leader in the energy sector.
- JSW Thermal, a wholly owned subsidiary of JSWEL incorporated in October 2024 to facilitate the transaction. Notably, JSW Thermal currently does not have any business operations.
- KMPCL, incorporated in 2009, is engaged in power generation and supply through its thermal power plant located in Chhattisgarh. The company’s 6 x 600 MW plant currently supplies power, but KMPCL is in the process of undergoing Corporate Insolvency Resolution Process (CIRP) as part of the Insolvency and Bankruptcy Code, 2016.
[1] https://www.cci.gov.in/media-gallery/press-release/details/494/0