JSW Energy has entered into an agreement with Jaiprakash Power Ventures (JPVL) on January 2, 2020 to re-structure the principal outstanding amount of Rs 751.77 crore, owed by JPVL to the Company.
An amount of Rs 351.77 crore to be converted into equity shares of JPVL at par value of Rs 10 each. Out of the balance outstanding principal amount of Rs 400 crore, Rs 280 crore to be written off and Rs 120 crore to continue as debt to be paid by JPVL to the Company, quarterly on priority basis, out of the available cash flows after JPVL has paid 10% of the re-structured sustainable debt to its secured lenders.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
