Team News Riveting
New Delhi, April 6
The Promoter group companies owned by Naveen Jindal and his family directly or indirectly have paid all its loan liabilities against Shares of Jindal Steel and Power (JSP).
JSP has been 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 Ltd. have fully repaid all the outstanding loans against shares. Through this repayment, the loan against share (LAS) for the Naveen Jindal Group now stands at Nil.
The loan repayment has been a part of the group’s deleveraging strategy. The peak Loan against shares was approximately Rs 1140 crore during Oct’18 which has been reduced to Nil.
Jindal Steel and Power Limited is an Indian steel company based in New Delhi. JSPL is a part of OP Jindal Group. In terms of tonnage, it is the third largest private steel producer in India and only private player in India to produce rails.
