Tata Power subsidiary Coastal Gujarat Power repays Rs 1500 cr of bank loans
With this repayment and the earlier repayment of Rs 2,650 crore of bank loans made in October 2020, the entire bank loans of CGPL aggregating to Rs 4,150 crore have been fully repaid. After this repayment, CGPL's long term debt comprises only Rs 3,940 crore of bonds and debentures.
This action is in line with the company's stated objective of repaying debt in CGPL to reduce the periodic debt servicing obligations of CGPL and thus make its operations more self-sustainable.
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