JSPL – Bid For Jindal Power Simplified- A Positive Development: Centrum Broking

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Addressing minority shareholders’ concerns regarding complexity of the earlier sale bid for subsidiary, Jindal Power Ltd., which has a 3,400 mega watt power plant, Jindal Steel and Power Ltd. has negotiated a revised bid with Worldone Pvt Ltd., a promoter group entity.

The revised bid will buy out all equity shares and redeemable preference shares of Jindal Power held by Jindal Steel and Power and knock off inter-company loan availed by JSPL for a total enterprise value of ~Rs 95 billion.

If the new proposal is finalised, it will reduce consolidated net debt by ~Rs 95 billion (earlier factored ~Rs 50 billion) and other income by ~Rs 3.5 billion in our FY22 estimates.

Click on the attachment to read the full report:

Centrum – Jindal Steel and Power – Event Update .pdf


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