JSPL to divest 96.42% stake in coal-fired power biz to reduce debt

28 Apr 2021 CW Team

Jindal Steel and Private Ltd (JSPL) will divest a 96.42% stake in Jindal Power Ltd (JPL) and has accepted a binding offer from Worldone Private Ltd, a company owned by the promoter group of JSPL.

The company said the equity value is an all-cash offer of Rs 3,015 crore for a 96.42% stake in JPL, including 3,400 MW coal-fired power plants in Chhattisgarh and other non-core assets owned by JPL. The long stop date for completion of the proposed sale is 12 months.

JSPL has two coal-fired power plants in Raigarh and Tamnar, totalling 3,400 MW. JPL had earlier tried to sell the units to JSW Energy, but the deal did not close.

The company told the media the divestment is in line with the company's strategic objective to reduce its debt and carbon emissions and focus steel production and double the output of its Angul steel plant to 12 million tonne per annum (mtpa). The divestment is subject to approvals, including from shareholders of JSPL, lenders of JPL and JSPL, and statutory sanctions.

JSPL's consolidated net debt stood at Rs 25,621 crore as of December 2020 compared with Rs 28,910 crore witnessed as of September 2020. The steel manufacturer aims to reduce its carbon footprint by almost 50%.

According to the JSPL, infrastructure spending in India is bound to grow exponentially, and the company is fully aligned with the Indian government's vision of achieving 300 mtpa steel production by 2030.

Image Source

Also Read: JSPL reveals roadmap for 2030

Also Read: Jindal Power hires former Coal India head as chairman

Infrastructure Urban

27 Oct 2025

Coal Ministry Achieves Milestones under Special Campaign 5.0

The Ministry of Coal and its Public Sector Undertakings (PSUs) have achieved notable milestones under the Special Campaign 5.0, focusing on cleanliness, operational efficiency, and sustainability across the coal sector. During the implementation phase from 2–31 October 2025, over 1,205 sites were cleaned, covering 68,04,087 sq ft, nearing the target of 82,51,511 sq ft. Scrap disposal of 5,813 MT against a target of 8,678 MT generated Rs 228.7 million in revenue. In addition, 1,11,248 physical and 30,331 electronic files were reviewed, with 74,123 weeded out or closed. Key initiatives showc..

Vesting Orders Issued for Three Coal Blocks under Commercial Auctions

The Ministry of Coal’s Nominated Authority has issued vesting orders for three coal blocks under commercial coal block auctions on 23 October 2025. The Coal Mine Development and Production Agreements (CMDPAs) for these mines were earlier signed on 21 August 2025. The three blocks include Rajgamar Dipside (Deavnara), Tangardihi North, and Mahuagarhi. Of these, two are partially explored while one is fully explored, with a combined peak rated capacity of around 1 MTPA and geological reserves of approximately 1,484.41 million tonnes. These mines are expected to generate annual revenue of abou..

TEC, IIT-Hyderabad Partner to Boost 6G and Telecom Standards

The Telecommunication Engineering Centre (TEC), technical arm of the Department of Telecommunications (DoT), has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Hyderabad (IIT Hyderabad) for joint research and technical collaboration in advanced telecom technologies and standardisation. The partnership focuses on developing India-specific standards and test frameworks for next-generation networks, including 6G, Artificial Intelligence (AI), and Non-Terrestrial Networks (NTNs). It also aims to enhance India’s participation in international standardisation f..