Tata Power’s subsidiary company -- Coastal Gujarat Power (CGPL) has repaid Rs 1,550 crore of bank loans. The company has repaid the amount on December 2. With this repayment and the earlier repayment of Rs 2,600 crore of bank loans made in October 2020, the entire bank loans of CGPL aggregating Rs 4,150 crore have been fully repaid. After this repayment, CGPL's long-term debt comprises only Rs 3,790 crore of bonds and debentures.
This action is in line with the company's objective of repaying debt in CGPL to reduce the periodic debt servicing obligations of CGPL and thus make its operations more self-sustainable.
Tata Power is India’s largest integrated power company.
