InvestorQ : Why has Jindal Steel and Power been cutting its debt levels so rapidly?
Debbie Mascarenhas made post

Why has Jindal Steel and Power been cutting its debt levels so rapidly?

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Arti Chavan answered.
2 months ago
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Jindal Steel and Power (JSPL), part of the Jindal group, announced prepayment of $357 million of debt by its Mauritius based 100% subsidiary. This will clear the total debt on the books of JSPL Mauritius which were guaranteed by JSPL India. JSPL already cut its global debt from $1,800 million to $130 million and has reduced its overall debt from peak of Rs.46,500 crore to Rs.10,981 crore. JSPL plans to become zero net debt by FY23.

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