Jindal Steel and Power Ltd (JSPL) on Tuesday said it will sell its entire 96.42 per cent stake in Jindal Power Ltd (JPL), a material subsidiary of the company, to World one Private Ltd for Rs 3,015 crore.
JSPL, in a release, said it has accepted a binding offer from World one to sell its stake in Jindal Power. “The equity value is an all-cash offer of Rs 3,015 crore for a 96.42 per cent stake in JPL including 3,400 MW coal-fired power plants in the state of Chhattisgarh and other non-core assets owned by JPL,” the company said.
