JSPL receives Rs 74.01 billion offer for disinvestment of JPL

Jindal Steel and Power Limited (JSPL) has received a revised offer of Rs 74.01 billion from Worldone Private Limited (WPL) for disinvestment of its arm Jindal Power Limited (JPL).

JSPL had earlier announced accepting an offer of Rs 30.15 billion from WPL to divest 96.42 per cent stake it holds in JPL. The company has announced that out of Rs 74.01 billion, Rs 30.15 billion will be paid cash and the balance Rs 43.86 billion will be settled by assumption and takeover of liabilities and obligations of JSPL with respect to inter-corporate deposits and capital advances extended by JPL to JSPL. The divestment is in line with JSPL’s objective to reduce its debt and carbon emissions.

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