Breaking News

You are here » Indian-Commodity  :  Corporate  :  JSPL in discussion to offload 15% stake to Yamato Steel: Report

01-Aug2016

JSPL in discussion to offload 15% stake to Yamato Steel: Report

In an order to reduce its leverage ratio, Jindal Steel & Power (JSPL) is reportedly in discussion to offload 15% stake in itself to Japan's Yamato Steel for Rs 2,500 crore. The company is expecting to reach an agreement with banks on a debt recast for its steel business this month.

Indian companies with a Japanese stake of 10% or more get preference in raw material and execution contracts for the $90 billion Delhi-Mumbai freight corridor being built with the aid of Japanese banks and multilateral funding institutions.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.


Related News

View all news

NTPC discontinues operations at Badarpur Thermal Power Station

NTPC has discontinued operations of Badarpur Thermal Power Station in New Delhi having total installed capacity of 705 MW with effect from October 15, 2018.NTPC is the largest power utility company in......

OCL India gets approval for scheme of Amalgamation

OCL India has received an approval from its board for implementation of the scheme of Arrangement and Amalgamation of the company and Dalmia Cement East (DCEL) & other associates into Odisha Cement......

Future Consumer raises funds worth Rs 50 crore via NCDs

Future Consumer has raised funds worth Rs 50 crore. The Committee of Directors of the Board of Directors of the company has on October 12, 2018, allotted 500 Senior, Secured, Non-Convertible Debentures......

Top News

View all news

Victory Paper, Orient Green Power and HCL Infosystems to see some action today

Victory Paper and Boards India has received approval from its board to start Aluminium Roofing sheet production. The Board decided to purchase Aluminium roofing sheets and manufacturing machines from......

Victory Paper gets nod to start Aluminium Roofing sheet production

Victory Paper and Boards India has received an approval from its board to start Aluminium Roofing sheet production. The company decided to purchase Aluminium roofing sheets and manufacturing machines from......

NTPC discontinues operations at Badarpur Thermal Power Station

NTPC has discontinued operations of Badarpur Thermal Power Station in New Delhi having total installed capacity of 705 MW with effect from October 15, 2018.NTPC is the largest power utility company in......