Jindal Power

As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II". Some of the other players who have submitted Expression of Interest (EoI) include Century Copper Corp, Greentech worldwide, Harsha Vardhan Reddy, J C Flowers Asset Reconstruction Pvt Ltd, Pinnacle Air Pvt Ltd, Universal Associates and WHSmith Travel Ltd amo

L N Mittal-backed HPCL-Mittal Energy and govt-owned companies remain in contention for the bankrupt firm

Jindal Power was hived off from its listed parent, Jindal Steel and Power last year to the promoter family and has been bidding for various bankrupt entities since

Resolution plan by April 30, but deadline can be stretched on request

JSW Steel, Jindal Steel & Power Ltd and Bharat Aluminium Company Ltd were among the 21 firms that put in bids in the latest auction of coal mines, the government said on Wednesday. In all, 26 bids were received for the auction of coal mines under the fourth tranche of sale of coal, the coal ministry said in a statement. Five of the 11 coal mines put on auction received single bids. The Gare Palma IV/6 mine in Chhattisgarh received a maximum of eight bids. The mine was originally allotted jointly to Jindal Stel & Power Ltd (JSPL) and Malwa Sponge Iron Ltd in January 2006 to meet the coal requirement of their respective sponge iron plants in nearby Raigarh and Taraimal districts, respectively. However, the allocations, along with others, were cancelled by the Supreme Court 2014. Utkal B1 & B2 mines in Odisha received six bids, while Chinora in Maharashtra got four and three bids came in for Rabodih OCP in Jharkhand. "The process of 4th tranche of the auction of coal mines ...

The Adani group's surprise entry into the race has raised hopes of the lenders who are now expecting an early resolution of Videocon's Rs 64,000 crore of debt

The Competition Commission of India (CCI) said on Thursday it has approved the acquisition of 96.42 per cent equity shareholding in Jindal Power Limited by Worldone Private Limited.

At the company's EGM held electronically on Friday, 97.12% of Jindal Steel shareholders via special resolution approved divestment of the firm's power business

JSPL said over 97 per cent shareholders have approved the proposal to sell 96.42 per cent stake the company holds in its arm Jindal Power for Rs 7,401 crore to its promoters owned firm Worldone.

JSPL Board accepted the revised binding offer from Worldone Private Limited to divest its 96.42 per cent stake in Jindal Power Limited (JPL), a material subsidiary of JSPL, the company informed.

JSPL on Saturday said its board has accepted the revised offer of Rs 7,401 crore from Worldone Private Limited for divestment of its subsidiary company Jindal Power Ltd. On July 25, JSPL had announced receiving the Rs 7,401-crore revised offer from Worldone Private Limited to acquire 96.42 per cent stake in Jindal Power Ltd (JPL). In a statement, Jindal Steel & Power Limited (JSPL) said its "Board has accepted the revised binding offer from Worldone Private Limited to divest its 96.42 per cent stake in JPL". The company informed that out of Rs 7,401 crore, Rs 3,015 crore will be paid in cash, while the balance Rs 4,386 crore will be settled by "way of assumption and takeover of liabilities and obligations of JSPL in relation to inter-corporate deposits and the capital advances extended by JPL to JSPL". The divestment is in line with JSPL's strategic objective to continuously reduce its debt and carbon emissions and focus on steel business. The company further said it had also ...

In April, JSPL divested 96.42 in JPL to Worldone for Rs 3,015 crore

JSPL on Sunday announced it has received a revised offer of Rs 7,401 crore from Worldone Private Limited for divestment of its subsidiary company Jindal Power Limiter (JPL).

The equity value is an all-cash offer of Rs 3,015 crore, including 3,400 MW coal fired power plants in Chhattisgarh and other non-core assets owned by JPL

Jindal Power and Steel (JSPL) on Tuesday said its board has approved divesting its entire equity interest in Jindal Power to Worldone, a promoter group company, for Rs 30.15 billion

Jindal Power Ltd (JPL) on Monday announced the appointment of former bureaucrat Anil Kumar Jha as its Chairman. A veteran of the mining industry, Jha isformer chairman of Coal India Limited, JPL said in a statement. JPL is a subsidiary of steel maker Jindal Steel & Power Limited (JSPL), Jha brings with him rich a experience of over three decades in the field of mine planning, production, management, supervision, direction and control of underground as well as open cast mines, the statement said. On Jha's appointment, JSPL Chairman Naveen Jindal said: "We welcome Anil Kumar Jha to the JPL family. We are confident that with his vast experience, JPL will continue to scale new heights and contribute towards a self-reliant India. We wish him great success at JPL." Jha is a mining graduate, he also holds an M.Tech degree from Indian School of Mines, Dhanbad. He started his career with Coal India as a Junior Executive (Trainee) at Topa Colliery in Central Coalfields Limited (CCL) in ..

CARE Ratings has reaffirmed stable outlook credit rating for Jindal Power

Govt officials say with this development, they hope the case will be disposed by February-end

Jindal claimed govt's demands for payment were illegal and without authorisation as it was allocated blocks at Raigarh

Late last year, Jignesh Shah-promoted Financial Technologies sold its residual stake of five per cent in IEX at a valuation of Rs 2,100 crore