Jindal Steel & Power to divest 96.42% stake in Jindal Power

Last Updated : Apr 27 2021 | 12:04 PM IST

Jindal Steel & Power has accepted a binding offer from Worldone (Acquirer), to divest its 96.42% stake in Jindal Power (JPL), a material subsidiary of the Company. The divestment is in line with JSPL's strategic objective to continuously reduce its debt, focus on its India Steel business and significantly reduce its carbon footprint by almost half as part of its ESG objectives. The equity value is an all-cash offer of Rs. 3,015 crore for 96.42% stake in JPL including 3,400 MW Coal fired power plants in State of Chhattisgarh and other non-core assets owned by JPL.

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Jindal Steel & Power to divest 96.42% stake in Jindal Power