JSPL to launch bidding process for JPL divestment
In effect, the Revised Offer is now simple and straight forward where there will be no continuing financial linkage between JSPL and JPL post the divestment
In effect, the Revised Offer is now simple and straight forward where there will be no continuing financial linkage between JSPL and JPL post the divestment
The company also postponed the Extraordinary General Meeting scheduled to be held on May 24.
This latest of Rs 2,462 crore is over and above the annual committed debt reduction in the financial year 2020-2021.
Indian Railways normally gets its rail supplies from public sector entity Steel Authority of India Ltd (Sail).
In June JSPL had said that it would sell its entire stake in its Oman asset for an enterprise value of over $1 billion to Templar Investment.
The scrip rallied 4.5 per cent to Rs 173.85 on the BSE at 2.52 pm and at NSE, it climbed 4.45 per cent to Rs 173.80.
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