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JSPL promoter company revises its offer for Jindal Power


JSPL promoter company revises its offer for Jindal Power
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Synopsis
“The revised offer is now simple and straightforward where there will be no continuing financial linkage between JSPL and JPL post the divestment,” the company said in a statement on Sunday.
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Naveen Jindal-led JSPL said that the company has successfully negotiated a revised and improved binding offer from its promoter group company Worldone for divesting its power business Jindal Power (JPL) for a total consideration of ₹7,401 crore.
“The revised offer is now simple and straightforward where there will be no continuing financial linkage between JSPL and JPL post the divestment,” the company said in a statement on Sunday. ....

Naveen Jindal Led , Jindal Power , நவீன் ஜிண்டால் வழிநடத்தியது , ஜிண்டால் பவர் ,

An Elliott moment: in a rare pushback, investors force JSPL to revisit sale of power arm to promoters


Synopsis
It may be still early days for investor activism in India. But in a rare move, JSPL’s shareholders have raised a red flag, forcing the company to revisit its plan to divest stake in Jindal Power. From valuation to the level of disclosure in shareholder notice, JSPL will have to address many concerns to get the green light from investors.
Late last month, Jindal Power and Steel Ltd (JSPL) said it will sell its entire stake in thermal-power subsidiary Jindal Power Ltd (JPL) to Worldone Private Ltd, an entity owned by the promoter group of the company. The Naveen Jindal-led company added that the divestment of its 96.42% stake in JPL was in line with its strategic objective of continuously reducing debt, focusing on India steel business, and significantly reducing the carbon ....

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