BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.