Franklin AMC bought JSPL papers from its schemes

Debentures bought at around 27% discount in two tranches

The mystery buyer of Jindal Steel and Power's (JSPL’s) non-convertible debentures (NCDs) in Franklin Templeton’s mutual fund schemes in February-March 2016 is, finally, out. And it is none other than Franklin Templeton Asset Management Company, itself, which bought these papers from its six schemes, according to the fund house’s annual report.   
 

The debentures were valued at around Rs 1,700 crore before credit rating agencies downgraded the instrument in January 2016. Franklin Templeton's asset management company bought the debentures for an aggregate value of Rs 1,240 crore, a 27 per cent discount.   
 

A Franklin Templeton spokesperson said: “Franklin Templeton