JSPL prepays Rs 24.62 billion to lenders for becoming debt free

Jindal Steel and Power Limited (JSPL) has made a prepayment of Rs 24.62 billion to its term lenders to become debt free.

The prepayment of debt is in line with the company’s long stated financial strategy of debt reduction and building a robust balance sheet with optimum capital mix. JSPL has recently announced divestment of its thermal power business to reduce its debt further as well as to cut down on its carbon footprint by almost half. JSPL has worked with a focus of debt reduction of over Rs 200 billion from a peak of around Rs 465 billion in third quarter of 2016-17 to Rs 256 billion as reported in third quarter of 2020-21.

GET ACCESS TO OUR ARTICLES

Enter your email address

Share your work e-mail and access a free 3 month digital subscription to Power Line Magazine