{"id":341522,"date":"2020-03-12T10:54:04","date_gmt":"2020-03-12T05:24:04","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=341522"},"modified":"2020-03-12T10:54:04","modified_gmt":"2020-03-12T05:24:04","slug":"essar-to-further-cut-down-debt-by-70-pc-in-last-leg-of-deleveraging-exercise","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/essar-to-further-cut-down-debt-by-70-pc-in-last-leg-of-deleveraging-exercise\/","title":{"rendered":"Essar to further cut down debt by 70 pc in last leg of deleveraging exercise"},"content":{"rendered":"<p>New Delhi: The Ruia family-owned Essar Group has embarked on the final leg of its deleveraging exercise with plans to cut down its residual debt by 70 per cent to about Rs 12,000 crore as it looks to rebuild the conglomerate post-oil and steel business selloffs. From Rs 1.83 lakh crore of debt in FY17, the group brought down the debt by a staggering Rs 1.40 lakh crore over the last three years. Now it plans to cut residual debt from Rs 42,000 crore to about Rs 12,000 crore, according to a mailer Essar sent to policymakers and bureaucrats.<\/p>\n<p>Post the proposed reduction of debt in the power business by over 60 per cent (Rs 12,000 crore), and similar deleveraging across its portfolio businesses, Essar would have almost cleared all its long-term debts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: The Ruia family-owned Essar Group has embarked on the final leg of its deleveraging exercise with plans to cut down its residual debt by 70 per cent to about Rs 12,000 crore as it looks to rebuild the conglomerate post-oil and steel business selloffs. From Rs 1.83 lakh crore of debt in FY17, the group brought down the debt by a staggering Rs 1.40 lakh crore over the last three years. Now it plans to cut residual debt from Rs 42,000 crore to about Rs 12,000 crore, according to a mailer Essar sent to policymakers and bureaucrats. Post [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-341522","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=341522"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/341522\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=341522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=341522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=341522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}