Live
JSW Energy has said that it is going to acquire Jindal Steel and Power Ltd’s 1,000 mw power plant in Raigarh, Chattisgarh for Rs 6,500 crore with certain pre-arranged conditions.
This move will be helping the Naveen Jindal-led steel-to-power group to pare debt burden. JSPL’s consolidated debt is around Rs 46,000 crore.
The deal is expected to be completed by June 30, 2018.
JSW Energy has said in a statement that the enterprise value of the deal is Rs 4,000 crore plus net current assets and “which will be increased to Rs 6,500 crore plus net current assets, if certain pre-arranged conditions regarding fuel security and power off take are satisfied.”
