 "debt restructuring, Banks, lending, lenders, RBI,")
Tata Power on Thursday said its Mundra subsidiary has made the second tranche of repayment for its bank loans. With this, the company said, all of the unit’s bank loans have been fully repaid.
In a statement to the BSE, Tata Power said Coastal Gujarat Power (CGPL), a wholly owned subsidiary of the firm, repaid Rs 1,550 crore of bank loans on Wednesday. CGPL houses Tata Power’s Mundra ultra-mega power project, based in Gujarat.
“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 making its
