Tata Power’s subsidiary Coastal Gujarat Power Limited (CGPL) has repaid Rs 15.50 billion of bank loans.
With this repayment and the earlier repayment of Rs 26 billion of bank loans made in October 2020, the entire bank loans of CGPL aggregating Rs 41.50 billion have been fully repaid. After this repayment, CGPL’s long-term debt comprises only Rs 37.90 billion of bonds and debentures. This is in line with the company’s objective of repaying debt to reduce the periodic debt servicing obligations and thus make the company’s operations more self-sustainable.