Aiming to Become Debt Free, JSPL Prepays to Lenders
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Aiming to Become Debt Free, JSPL Prepays to Lenders

Jindal Steel and Power Ltd is aiming to become a net debt-free company as it made a prepayment of INR 2,462 crore to its term lenders. JSPL’s Managing

Jindal Steel and Power Ltd is aiming to become a net debt-free company as it made a prepayment of INR 2,462 crore to its term lenders. JSPL’s Managing Director Mr VR Sharma said “This reduction of INR 2,462 Cr is over & above the annual committed debt reduction in the financial year 2020-2021. The significant debt reduction is part of our long-term financial strategy to create a strong balance sheet. In the coming quarters, we intend to further strengthen our balance sheet and become net debt-free shortly.”

JSPL has worked with a singular focus of debt reduction of more than INR 20,000 crores from a peak of approximately INR 46,500 crore in Q3 of FY17 to INR 25,600 crore as reported in Q3 of FY21. JSPL has recently announced divestment of its thermal power business to reduce its debt further as well as to cut down on its carbon footprint by almost half.

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