The Board of Directors of Jindal Steel and Power Ltd (JSPL) approved a binding offer from Worldone Pvt Ltd to divest its entire equity stake (96.42 %) in Jindal Power Ltd (JPL) in an all-cash offer of Rs 3,015 crore. This divestment plan includes 3,400 MW coal fired power plants in Chhattisgarh and other non-core assets owned by JPL. JSPL is a leading Indian infrastructure conglomerate with a presence in steel, power and mining sectors. JSPL’s Managing Director V R Sharma said, “It is yet another step towards our vision to reduce debt substantially and create a robust balance sheet for our investors and stakeholders.”
