JSPL to divest 100 percent stake of Oman-based subsidiary for $1 billion

Date:

Trending

Jindal Steel and Power Ltd (JSPL) has announced plans to sell its Oman-based subsidiary for over $1 billion (approx Rs 7,500 crore).

In a statement issued, JSPL said, “It’s subsidiary ‘Jindal Steel and Power (Mauritius) Ltd’ (JSPML) has accepted a binding offer from Templar Investments Limited to divest its entire stake in its Oman asset Jindal Shadeed Iron and Steel Co LLC (JSIS Oman).”

“The deal size is over $1 billion,” the statement said.

Speaking on the development, V.R Sharma, Managing Director of JSPL said, “This sale is in-line with our vision to reduce debt and create a much healthier balance sheet for our investors and stakeholders. We firmly believe in the India growth story.”

“The transaction is subject to approval from shareholders of JSPL and lenders of JSIS Oman and others. The transaction is expected in a month,” the statement added.

THE SNAPSHOTS, IN YOUR INBOX

Get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

Atmosphere The Store Makers draws INR 5 Cr in seed round

Mumbai based Atmosphere – The Store Makers on Thursday raised INR 5 crore in series seed round funding co-led by Artha Venture Fund and...

Plan for Change: UK PM Keir Starmer Outlines Six Point Plans for Housing, NHS, Policing, and More

London, UK — The United Kindom PM and Labour Party leader Keir Starmer on Thursday unveiled a series of pledges as part of his "Plan for Change," aiming to address key challenges facing the United Kingdom. Speaking at Pinewood Film Studios west of London, Starmer...

Top Trends in Web3 Platforms for Forward-Thinking Entrepreneurs

The digital landscape is evolving rapidly, and Web3 platforms are leading this transformation. For...

Benjamin Netanyahu: Thank You President Donald Trump for Calling Hamas to Release Hostages

Israeli Prime Minister Benjamin Netanyahu on Tuesday expressed his gratitude to U.S. President-Elect Donald...

Ensuring Fair Play: AIGF CEO Roland Landers on Promoting Skill-Based Gaming in India

During an interview with TechGraph, Roland Landers, CEO of the All India Gaming Federation...

The Evolution of Gaming: From Traditional to Immersive Online Experiences

Gaming has undergone a remarkable transformation over the decades, evolving from basic, tactile forms...

What’s next for Battery Recycling: Innovations on the Horizon

India is accelerating its shift toward electrification and renewable energy, bringing battery recycling into...

Best Trading Platforms for Forex: An In-Depth Guide

If you’re looking to dive into forex trading, choosing the right trading firms are...

Titan Intech Ltd To Secure Rs 200 Cr via NCDs

Titan Intech Limited, a BSE-listed company specializing in Embedded Manufacturing Services (EMS) for OEM/ODM solutions and advanced embedded systems, has announced plans to secure...

Unexpected Tips To Help Maintain Your Vehicle’s Condition

When it comes to prolonging the life of your vehicle, the condition of your...

Discover the Features of Melbet’s Mobile App for Indian Bettors

The Melbet mobile application has been designed to cater to the growing community of...

Why BITBinvest.com is Expanding Worldwide & Capturing High-Profile Trader’s Attention?

BITBinvest.com has rapidly emerged as one of the leading companies in online trading, making...

The Impact of Real-Time Market Data Solutions on Informed Trading Decisions

The world of finance isn’t stagnant; it is dynamic and ever-evolving. Every second, a...

AI and Workplace Equality for Women in the Digital Era

As society heads toward an age dominated by technology, a key question remains: will women be at the forefront of this revolution, or will...

OPPO, Microsoft Teams up To Bring Advanced AI Productivity To ColorOS 15

OPPO has strengthened its partnership with Microsoft to deliver advanced AI productivity features to ColorOS 15, OPPO's next-generation smart device experience. "To deliver advanced AI experiences, we are incredibly proud to partner with Microsoft, a pioneer in the field. At the cutting edge of global...

Order for Health (O4H) Snaps INR 1 Cr In Series Seed Round Funding

Order for Health (O4H), a Bengaluru-based healthy food brand, has secured INR 1 crore...

build3 Launches Second Cohort of Impact Startup Academy

build3, an ecosystem championing startups that merge profit with purpose has today announced the...

Indusface Launches CyberShiksha program to Educate Students on Cybersecurity

Indusface, a leading application security provider for SaaS solutions, has launched CyberShiksha, a national...

Crypto Market Crosses $3.08 Trn, Bitcoin Hits $91,616, Litecoin Drops Below $90

The cryptocurrency market surged to a total valuation of $3.08 trillion on Monday, with...

Voice-Based AI and SLMs: Gnani Ai CEO Ganesh Gopalan On India’s Voice AI Boom

During an interview with TechGraph, Ganesh Gopalan, Co-founder of Gnani.ai, discussed how voice-based AI,...

MoneraCap com Review: A Deep Dive into a Transformative Trading Experience

Decision that can shape your investment journey. A well-chosen platform not only enhances trading...
00:01:42

The Trump Effect: Crypto Market Hits $3 Trillion Market Cap; Bitcoin Surges $87K, While Ethereum Stood At $3k

Following Donald Trump's presidential election victory, the cryptocurrency market surged, reaching a whopping $3.02...
00:01:10

Tom Homan Old Video Goes Viral, After Donald Trump Taps Him As Border Czar

An old video of Tom Homan, former acting head of US Immigration and Customs...

UltraverseNFT Launches Sandalwood backed NFT for Eco-Conscious Investors

UltraverseNFT is proud to introduce its groundbreaking Sandalwood NFTs, designed to redefine eco-conscious investments...

Why BITBinvest.com is Expanding Worldwide & Capturing High-Profile Trader’s Attention?

BITBinvest.com has rapidly emerged as one of the leading companies in online trading, making...

Yoju Casino Online Review: A Comprehensive Guide for Enthusiasts

Welcome to our in-depth review of Yoju Casino, a vibrant online gaming platform that...

RULOANS Sees Surge in Digital Secured Loan Demand on RUCONNECT App

RULOANS Distribution Services, an Indian financial products distributor, has reported a significant uptake in...

The Hidden World of Mega888 APK: What Casual Players Are Missing Out On

Mega888 APK is well-known among online casino enthusiasts for its thrilling games and easy-to-navigate...

The Importance of Zero-Trust Security Models in Safeguarding Data

In an age where cyberattacks grow more sophisticated by the day, traditional security models...

The Impact of Real-Time Market Data Solutions on Informed Trading Decisions

The world of finance isn’t stagnant; it is dynamic and ever-evolving. Every second, a...

Tom Homan Old Video Goes Viral, After Donald Trump Taps Him As Border Czar

An old video of Tom Homan, former acting head of US Immigration and Customs...

Protests Erupts in Valencia Over Deadly Floods in Eastern Spain

Over ten thousand people took to the streets of Valencia to protest against the...

UltraverseNFT Launches Sandalwood backed NFT for Eco-Conscious Investors

UltraverseNFT is proud to introduce its groundbreaking Sandalwood NFTs, designed to redefine eco-conscious investments...