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Showing posts with label regulations. Show all posts
Showing posts with label regulations. Show all posts

Wednesday, 28 April 2021

ро▓роо்рокроХ் роХро▓ைропிро▓் роЪிро▒рои்родு ро╡ிро│роЩ்роХுроо்

            ро▓роо்рокроХ் роХро▓ைропிро▓் роЪிро▒рои்родு  ро╡ிро│роЩ்роХுроо் ро╡ேро▓роо்рооாро│் рокро│்ро│ி рооாрогро╡ро░்  

 
рооுроХрок்рокேро░் ро╡ро│ாроХрод்родிро▓் роЙро│்ро│ ро╡ேро▓роо்рооாро│் рооுродрой்рооைрок் рокро│்ро│ிропிрой் 7 роЖроо் ро╡роХுрок்рокு рооாрогро╡ро░் роЪெро▓்ро╡рой் ро░ோро╣ிрод். ро╡ி,роЕрог்рооைропிро▓் роЪெрой்ройை роГрокாро░ெроХ்ро╕் рооைродாройрод்родிро▓் роироЯைрокெро▒்ро▒ родрооிро┤роХрод்родிрой் рокро░роо்рокро░ிроп ро╡ீро░ ро╡ிро│ைропாроЯ்роЯுрок் рокோроЯ்роЯி -2021 роЗро▓் роХро▓рои்родு роХொрог்роЯு роЪிро▓роо்рокроЯ்роЯрод்родிро▒்роХாрой "роороХாроХுро░ு роЬроо்рокு роЖроЪாрой்" роиிройைро╡ுрок் рокро░ிроЪை ро╡ெрой்ро▒ாро░்.


 роЗрок்рокோроЯ்роЯிропிройை роЪெрой்ройை рооாро╡роЯ்роЯ роЪிро▓роо்рокாроЯ்роЯроХ் роХро┤роХроо்   роПро▒்рокாроЯு роЪெроп்родிро░ுрои்родродு. роЗродு родрооிро┤்роиாроЯ்роЯிрой் рокாро░роо்рокро░ிроп родро▒்роХாрок்рокுроХ் роХро▓ைропிрой் ро╡ро│рооாрой рокாро░роо்рокро░ிропрод்родை рооீрог்роЯுроо் роороХ்роХро│ிроЯроо் роХொрог்роЯு роЪேро░்рок்рокродாроХ роЕрооைрои்родிро░ுрои்родродு.
родрооிро┤்рок் рокாро░роо்рокро░ிропрод்родிрой் роиுроЯ்рокрод்родை ро╡ெро│ிрок்рокроЯுрод்родுроо் роЪிро▓роо்рокாроЯ்роЯрод்родிро▓்
рооாрогро╡ро░ிрой் роороХрод்родாрой роЗроЪ்роЪாродройைропைрок்  роЪாродройைропைрок் рокро│்ро│ி роиிро░்ро╡ாроХроо்  ро╡ிропрои்родு рокாро░ாроЯ்роЯிропுро│்ро│родு.

JSPL to divest its coal fired power business to

 JSPL to divest its coal fired power business to reduce emissions, debt

To significantly reduce JSPL carbon footprint by almost 50%

Key Highlights

● Cash Proceeds of Rs.3,015 crores to be received at closing

● Transaction in line with ESG objectives and debt reduction strategy of JSPL to create a robust balance sheet

● Enhanced Focus on India Steel business and upcoming Angul plant expansion from 6 MTPA to 12 MTPA

Chennai,  27th April 2021: Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that Jindal Steel & Power Limited ("JSPL" or "the Company") has accepted a binding offer from Worldone Private Limited ("Acquirer"), to divest its 96.42% stake in Jindal Power Limited ("JPL"), a material subsidiary of the Company. The divestment is in line with JSPL’s strategic objective to continuously reduce its debt, focus on its India Steel business and significantly reduce its carbon footprint by almost half as part of its ESG objectives. The equity value is an all-cash offer of Rs. 3,015 crores for 96.42% stake in JPL including 3,400 MW Coal fired power plants in State of Chhattisgarh and other non-core assets owned by JPL.

The divestment is subject to receipt of requisite approvals including approval from shareholders of JSPL, approval from lenders of JPL and JSPL, and such other statutory approvals, consents, permissions and sanctions as may be necessary in line with the extant relevant guidelines. Grant Thornton acted as the Transaction Advisor and ran a comprehensive sale process, reaching out to numerous national & international investors for the asset. Cyril Amarchand Mangaldas, India, acted as JSPL’s legal advisor for the transaction.

Shri V.R. Sharma, MD- JSPL said, “This divestment is in line with our ESG objectives to be amongst the top 10 lowest Co2 emitting steel companies of the world. It is yet another step towards our vision to reduce debt substantially and create a robust balance sheet for our investors and stakeholders. Looking to the future, JSPL will be a key growth driver in the Indian steel industry and will now focus on undertaking expansion of its Angul steel plant from Jindal Steel & Power Limited Corporate Office Jindal Centre, 12 Bhikaji Cama Place, New Delhi 110 066 6 MTPA to 12 MTPA. Infrastructure spending in India is bound to grow exponentially and JSPL is fully aligned with GoI’s vision of achieving 300 MTPA steel production by 2030. We firmly believe in the India growth story and its potential to be an engine of global growth.”