From less than 40 percent in FY16, utilisation levels rose to 49.7 percent in FY22 and further to 58.7 percent in May
Worldone will buy out all the equity shares and redeemable preference shares of JPL held by JSPL for a total consideration of approximately Rs 7,401 crore.
Jindal Power stake sale to Worldone has been approved by the JSPL shareholders at EGM (extraordinary general meeting) held on September 3, 2021, the source told PTI.
The initial sale price by JSPL implies a steep 55 percent discount to the replacement cost of the power plants
Out of these, 37 are fully explored, meaning it could be brought to production immediately, and 30 partially. During the first round of auctions held last year, 19 mines received successful bids, out of the 38 on offer.
Concerns on the operating performance of international subsidiaries of Jindal Steel and Power remain. Almost two-thirds of power assets remain idle due to lack of demand
A company official said that Sinha was appointed as chairman of Jindal Power earlier this month, following which he took over last week.
"CARE has reaffirmed stable outlook credit rating of A- (Single A minus) to Jindal Power which operates the 3400 MW OP Jindal Super Thermal Power Plant at Tamnar, Chhattisgarh," JSPL said in a statement on Friday.
Naveen Jindal talks about, among other things, his plan to keep working on cutting his company’s debt by Rs 5,000 crores to Rs 6,000 crore for three consecutive years and listing JSPL’s Oman unit.
In a setback to Jindal Steel and Power (JSPL), the Delhi High Court has upheld the decision of the government to cancel Jindal Power's bid for the Gare Palma and Tara blocks.
"K Rajagopal, has resigned from the position of CFO and he will relinquish his office from the close of business hours on November 21, 2016," it added.
India Business Excellence Fund-II and India Business Excellence Fund-IIA, funds managed and/or advised by MOPE Investment Advisors Private Ltd has acquired 4.1 percent stake in IEX from Jindal Power Ltd for a total consideration of Rs 98 crore, MOPE Investment Advisors said in a press release.
"As part of the monetisation plan already advised, Jindal Power, a subsidiary company of JSPL has entered into a definitive agreement to divest 4.12 percent holding in India Energy Exchange at an undisclosed," says the company in its filing.
Jindal Steel and Power (JSPL) today said its subsidiary Jindal Power has entered into a definitive agreement to divest 4.12 percent stake in Indian Energy Exchange for an undisclosed amount by month-end.
Ravi Uppal, MD & CEO of JSPL says that the company has been approached by various parties for JPL stake as well as for standalone power assets.
By the end of March 2015, the company had consolidated debt of Rs 42,252 crore, increased significantly from Rs 34,230 crore in March 2014.
The company is aiming to raise nearly Rs 20,000 crore from the stake sale. Of this, sources say it may fetch about Rs 15,000 crore from JPL's sale.
A hydro power project being executed by GMR in Himachal Pradesh has also been offered to NHPC on ownership basis.
"Reliance Power logged the highest PLF of 98.2 percent in November 2015 as Sasan UMPP outperformed industry average of 60.6 percent in November 2015," an IDFC Securities report stated.
State-run power equipment maker BHEL today said it has fully commissioned 2,400 MW OP Jindal thermal power project in Chhattisgarh.
According to sources, the govt may not seek IMC deliberation on 5 coal blocks auctioned in phase 2
Shares of Hindalco Industries fell more than 6 percent intraday Monday on fears that the government may re-examine bids for coal blocks auctioned in schedule 3.
The central government will be taking the final decision on whether to re-auction these three coal mines or not based on the report submitted by the committee.
The government may also re-auction the blocks sent for re-examination to derive true value of the blocks. However, it has been learnt that the government is yet to decide on re-auctioning blocks sent for re-examination.
Shares of Jindal Steel & Power (JSPL) gained more than 8 percent intraday Monday after power generation unit Jindal Power won Tara coal block in Chhattisgarh for Rs 2,103 crore.