April 28, 2017 10:22 PM ET

Electric Utilities

Company Overview of Jindal India Powertech Ltd.

Company Overview

Jindal India Powertech Ltd. operates as a holding company for Jindal India Thermal Power Ltd. Jindal India Powertech Ltd. was incorporated in 2007 and is based in India.

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India

Founded in 2007

Key Executives for Jindal India Powertech Ltd.

Jindal India Powertech Ltd. does not have any Key Executives recorded.

Jindal India Powertech Ltd. Key Developments

Jindal India To Reportedly Sell Odisha Power Plant

Jindal India Powertech Ltd. intends to sell Odisha power plant. Jindal India is in talks with prospective buyers to sell its 1200 MW thermal power plant in Odisha, three people familiar with the development said. It has received offers from Sembcorp Industries Ltd (SGX:U96), Adani Power Limited (BSE:533096) and JSW Energy Limited (BSE:533148), one of the three people cited above said, requesting anonymity. "The sell side mandate was given to EY around three months ago following which SembCorp has made an upfront cash offer of close to Rs 1600 crore for the equity component of the project," said the person cited above. "JSW and Adani have offered a higher price of more than Rs 2000 crore, but the offer involves an upfront cash payment of around Rs 500 crore to Rs 600 crore towards equity and the remaining upon fulfilment of certain conditions linked to singing of power purchase agreements and coal linkages," the person said. Mint added that emails sent to Adani group, SembCorp and EY did not elicit any response. "Your query is completely speculative and baseless. The company reiterates that there is no truth and categorically deny any discussion by JSW Energy with them," a JSW Energy spokesperson said.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 24, 2017
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