Promoter Group Firms Have Fully Repaid Loan Against Shares, Says JSPL
Listen to This Article
A statement said the company was informed that promoter group companies that are part of Naveen Jindal Group, namely OPJ Trading Pvt Ltd, Opelina Sustainable Services Pvt Ltd and Gagan Infraenergy, had fully repaid all outstanding loans against shares.
The loan against share for the Naveen Jindal Group now stands at nil, it said. The peak loan against shares was approximately Rs 1,140 crore during October 2018. The most recent payment, according to company sources, was Rs 136 crore.
The loan repayment is part of the group's deleveraging strategy, the statement said.
JSPL’s overall debt has come down in the past few years. Net debt was at Rs 39,137 crore in FY19 and it stood at Rs 7,090 crore in nine months of FY23, according to a company earnings presentation on Q3 FY23. JSPL has outlined a growth capex of Rs 24,000 crore through FY 2026-27 for expansion.
ClearBank UK Profit Leads To European Growth
ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more
Bank Of London Continues To Rebuild
ClearBank’s progress shows that modern clearing and banking infrastructure can become a sizeable and profitable busine... Read more
JPMorgan's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more