GE Power India's Durgapur Unit Demerger to JSW Energy

In a strategic move aimed at portfolio realignment, GE Power India Limited has announced the proposed hive-off of its Durgapur boiler manufacturing facility to JSW Energy Limited through a scheme of arrangement, marking a strategic realignment for both companies. The transaction reflects GE Power India's intent to sharpen its focus on its services-led business, while enabling JSW Energy to achieve backward integration by securing in-house manufacturing capabilities for critical thermal power equipment

- Anirudha Jain

GE Power India Limited (“GPIL” or “Demerged Company”) is engaged in the business of design, development, engineering, project management, manufacturing, supply, construction, commissioning, repairs and modernization (R&M), services, retrofit and upgrades of boiler, coal mills, pressure vessels, critical piping for steam turbine applications, steam turbine and generator spares and components, air quality control systems, automation systems, and power electronics for thermal power plants and industrial application. The shares of the Demerged Company are listed on the National Stock Exchange of India Limited and BSE Limited.

JSW Energy Limited (“JEL” or “Resulting Company”) is engaged in the business of generation of power, and other allied activities, through itself and its subsidiaries.

The shares of the Resulting Company are listed on the National Stock Exchange of India Limited and BSE Limited. Additionally, the Resulting Company has also issued certain NCDs, which are listed on BSE Limited.

The Proposed Transaction:

The Board of Directors of the GPIL & JEL in their respective board meetings have approved a Scheme of Arrangement which inter-alia provides for the demerger of the “Durgapur Facility” of the GPIL into JEL.