Jayant Kawale was today appointed as the managing director of Indiabulls Power. Kawale is an ex- IAS Officer of 1981 batch of Maharashtra cadre with an extensive leadership experience in the power sector. He headed the Maharashtra State Electricity Board, then the largest vertically integrated utility in the country, with exposure to generation, transmission and distribution, and also served as secretary, energy in government of Maharashtra and as joint secretary, ministry of power, Government of India.

''Jayant Kawale brings with him a unique combination of strong administrative capabilities from the Government sector and rich leadership experience from the power sector. We are very happy to have Kawale as part of Indiabulls Power family,'' said Rajiv Rattan, the Founder chairman of the company. 

In 2009, Kawale made a diagonal change in his career and joined the private sector as CEO (Energy Development) in Bharat Forge. Prior to joining IndiaBulls, he was with Jindal Power as managing director. He is 58 years old.

''With power industry at an inflection point with the current proactive Government, it will be an exciting journey to be part of such a dynamic organization like Indiabulls Power.'' said Jayant Kawale, the newly appointed managing director.

Shares of the company declined Rs 0.33, or 2.56%, to settle at Rs 12.58. The total volume of shares traded was 1,138,675 at the BSE (Wednesday).