JSPL accepts revised offer from Worldone to divest 96.42% in Jindal Power

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

“As highlighted in our notice dated 24 July 2021, key features of the Revised Offer are that 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 cr of which (i) Rs 3,015 crore will be payable by cash, and (ii) the balance Rs 4,386 Cr (approximately) will be payabale by way of assumption and takeover of liabilities and obligations of JSPL in relation to inter-corporate deposits and the capital advances paid by JPL to JSPL,” said JSPL in a statement issued on Saturday.