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Sajjan Jindal-owned <keyword id="146214" type="General" weightage="100" keywordseo="jsw-infrastructure" source="Orion">JSW Infrastructure</keyword> has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) to retire debt and support its expansion plans. JSW Infrastructure will be the third company of the <keyword id="144036" type="General" weightage="80" keywordseo="jsw-group" source="Orion">JSW Group</keyword> to be listed on the bourses after JSW Energy and JSW Steel. The ports business of the JSW Group filed the DRHP on May 9. Going by the draft papers, the IPO is purely a fresh issue of equity shares with no offer-for-sale (OFS) component, and the promoters will not be diluting their current stake through the issue. The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects, as per the draft red herring prospectus (DRHP). JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers. As of December 31, 2022, JSW Infrastructure had a net debt of Rs 2,875 crore. The company had a profit after tax (PAT) of Rs 447.2 crore in October-December 2022-23 and Earnings Before Interest, <keyword id="6368033" type="General" weightage="50" keywordseo="taxes" source="Orion">Taxes</keyword>, Depreciation, and <keyword id="990685" type="General" weightage="50" keywordseo="amortisation" source="Orion">Amortisation</keyword> (EBITDA) of Rs 1,268.6 crore. JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers. The equity shares are proposed to be listed on BSE and NSE. Besides, the Sajjan Jindal-owned JSW Group is also into cement, paints, venture capital and sports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/receiving-calls-from-international-numbers-starting-with-254-84-63-report-and-block-say-experts/articleshow/100132580.cms">Receiving calls from international numbers starting with +254, +84, +63...; report and block, say experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/ibm-partners-with-nasa-to-monitor-natural-disasters-and-climate-change-using-ai/articleshow/100132462.cms">IBM partners with NASA to monitor natural disasters and climate change using AI</a>

JSW Infrastructure files draft papers; eyes ₹2,800 cr via IPO

Mumbai, Jan 19 () Top corporate executives took part in the financial capital's flagship Tata Mumbai Marathon on Sunday, in what has become a yearly ritual.
 Tata Sons Chairman N Chandrasekaran, Anil Ambani of the embattled Reliance Group, JSW Group's Sajjan Jindal and his son Parth Jindal were amongst those who ran distances at the marathon, officials said.
 A large section of corporate executives preferred the shorter 21.095-km half marathon, with the Jindal father-son duo, Chandrasekaran and others opting for it.
 Indiabulls Housing Finance VC and MD Gagan Banga, arguably the fastest c-suite executive who runs the full marathon every year, also preferred the half marathon and completed with an aggressive timing of 1 hour and 42 minutes.
 "Running has always been therapeutic for me. Over years I've shifted focus from trying to set personal records each time to personal victories. I want to get out there and just enjoy my run. Today's run was one such run," he said in a statement.
 The 60-year-old Sajjan Jindal termed the run as a great way to start the new year and added that the JSW Group always focuses on strong fitness routines for employees. 
 Private sector lender Kotak Mahindra Bank's top management, including head of consumer banking Shanti Ekambaram and head of corporate lending K V S Manian, also ran in the 10 km category.
 Group arm Kotak Trusteeship Services Executive Director Gautami Gavankar said she notched up a personal best in the half marathon category in Sunday's run, and expressed happiness about being able to raise money for various causes through the run. AA

 RVK

Top corporate executives take part in Mumbai marathon

New Delhi, Mar 29 () The JSW Group on Sunday said it will extend a financial assistance of Rs 100 crore to combat the deadly coronavirus. Besides, the Sajjan Jindal-led group will also provide equipment to healthcare workers to deal with the situation, and its employees will donate one-day's salary to prevent the spread of the virus. "In light of the current COVID-19 crisis, the JSW Group has committed INR 100 crores to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) in support to all on-going relief efforts," JSW Group said in statement. Each employee of the JSW Group has also committed a minimum of a single day's salary as a donation to the fund, it said. Separate funds have been earmarked by the group to import ventilators to be supplied to healthcare facilities across the country, besides COVID-19 testing kits, personal protective equipment such as masks, gloves, among others, for health care workers. The statement further said that communities in and around the JSW Group facilities will be provided with staples and other essential dietary requirements As part of the relief work, many locations at facilities of the group companies are being turned into isolation wards to lessen the stress on community hospitals in the areas. JSW Group Chairman Sajjan Jindal said, "We are continuously evaluating the situation and are committed to assist the government in all ways possible to deal with all COVID-19 related fallouts. These immediate contributions is what we see is the need of the hour, and we have earmarked further monetary and non-monetary contributions so as to allow us to dynamically respond to all societal requirements in the future." The USD 14 billion JSW Group has presence in sectors like steel, energy, cement, infrastructure, paints and sports. ABI RVK

JSW Group commits Rs 100 cr to fight coronavirus pandemic

<ul><li><keyword id="45609" type="CITY" weightage="20" keywordseo="JSW-Steel">JSW Steel</keyword> Chairman Sajjan Jindal said that they don’t see ArcelorMittal as a challenge </li><li>Tata Steel’s CFO Koushik Chatterjee also said there should be competition in the market. </li><li>SAIL chairman A K Chaudhary said that ArcelorMittal's entry will promote healthy competition. </li></ul>Presence of more companies in the market will lead to more innovations, quality and R&amp;D activities, said domestic steel players on Thursday while reacting to the entry of global steel giant ArcelorMittal in India.
 "We don't see ArcelorMittal as a challenge," JSW Steel Chairman Sajjan Jindal told on the sidelines of the ISA Steel Conclave here.
 More the number of players, more the research &amp; development (R&amp;D) activities, innovations, quality in the market, he added reacting to a question how will the ArcelorMittal's entry benefit the consumers.
 Jindal Steel and Power Chairman Naveen Jindal said, "We see its (ArcelorMittal's) entry as a positive step."
 Tata Steel Chief Financial Officer Koushik Chatterjee also said there should be competition in the market.
 Steel Authority of India Ltd (SAIL) Chairman A K Chaudhary said, "ArcelorMittal's entry will promote healthy competition in market."
 The industry looks forward to work with them in future, he added.
 Last week, the Supreme Court paved the way for ArcelorMittal's takeover of debt-ridden Essar Steel for Rs 42,000 crore and set aside the July 4 NCLAT order giving equal status to financial creditors and operational creditors.
 Following the verdict, ArcelorMittal said it expects to complete the acquisition of the debt-ridden company by the end of this year.
 Essar Steel was auctioned under the new Insolvency and Bankruptcy Code to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors. ABI HRS

Tata Steel and JSW welcome competition from ArcelorMittal after it buys Essar

New Delhi, Feb 12 () India needs to strengthen domestic manufacturing capacity in various areas, including antibiotics, to reduce dependence on China, industrialist Sajjan Jindal said on Wednesday. Almost entire requirement of raw material required for antibiotics is imported from China, which means that it controls the Indian market for antibiotics, the JSW Group chairman said in a statement. "India should not become a victim to the Chinese strategy of incapacitating the critical sectors of our economy. It is high time the government acts on strengthening and expanding the manufacturing sector," he said. In a country like India, where the population is large and consumption is huge, "we cannot become slave to Chinese dominance," he said, adding the country needs a firm policy to protect the manufacturing industry from such predatory tactics. China, Jindal said, exploits its manufacturing scale to manufacture goods of critical importance and then dumps it into other countries at an undercut price which makes the local industry unviable and they are forced to shut operations. ABI ABM

Industrialist Sajjan Jindal urges govt to strengthen domestic manufacturing sector

Some of the big companies in India are keen on buying a team in the Indian Premier League (<keyword id="6354312" type="CITY" weightage="80" keywordseo="IPL">IPL</keyword>) after the <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword> banned Chennai Super Kings (CSK) and <keyword id="13802" type="CITY" weightage="80" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword> (RR) on Tuesday from participating in the game. 

	This move provides room for the induction of two more teams in the next edition of IPL, reported ToI.
 

	The IPL is the richest of the world's Twenty20 cricket leagues.
 The expected list of names are: Gautam Adani, <keyword id="2742230" type="UNKNOWN" weightage="80" keywordseo="Adani-Group-chairman">Adani group chairman</keyword>, <keyword id="52673" type="PERSON" weightage="60" keywordseo="harsh-goenka">Harsh Goenka</keyword>, RPG group chairman, Sajjan Jindal, chairman JSW, <keyword id="7025" type="PERSON" weightage="80" keywordseo="Venugopal-Dhoot">Venugopal Dhoot</keyword>, Videocon group chairman, besides others such as Prasad Potluri of South-based PVP Ventures and the Munjals of Hero group. Confirming the development Harsh Goenka told ToI, that honour was restored to the gentleman's game with corruption getting clean bowled by the apex court’s verdict. "The league remains an interesting investment opportunity. If <keyword id="6354756" type="CITY" weightage="80" keywordseo="BCCI">BCCI</keyword> auctions a franchise, I will consider it only if the valuations are considerable." 

	Moreover, the valuations of the IPL teams have come down considerably due to a series of corruption. According to experts, the new teams are likely to be bought for less than $100 million.
 Venugopal Dhoot, one of the key sponsors of Mukesh Ambani-owned <keyword id="13880" type="COMPANY" weightage="80" keywordseo="Mumbai-Indians">Mumbai Indians</keyword>, is also keen on buying a team. "We will definitely look at bidding for an IPL franchise as and when BCCI calls for bid. We spend crores in branding exercise and owning an IPL team would be a great idea," he said. 

	The Board of Control for Cricket in India (BCCI) might want to revive the Pune and Kochi teams. However, launching a new team for Ahmedabad may not be ruled out, according to sources. 
 

	In that case Gautam Adani may be a key contender to buy the Ahmedabad team as the billionaire businessman had once dreamt of owning an IPL team for his home state. 
 "The idea of having an Ahmedabad team would be great as it would draw lots of interest from corporates for being the home state of Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword>," said an industry leader. 

	Sajjan Jindal is another top contender to own an IPL team. "Cricket is the number one sport in our country so there is an idea to acquire a team... an IPL team. But, I cannot comment which team would it be," Jindal, JSW group chairman said earlier this month.
 He did not confirm or deny if he wanted to buy <keyword id="12643" type="ORGANIZATION" weightage="80" keywordseo="Royal-Challengers">Royal Challengers</keyword> Bangalore (RCB), owned by liquor baron <keyword id="14678" type="PERSON" weightage="80" keywordseo="Vijay-Mallya">Vijay Mallya</keyword>. 

	JSW Sports, a JSW Group owned firm, is the owner of Bengaluru FC, one of the I-league teams led by Indian football team's captain Sunil Chhetri.
 Potluri Vara Prasad might again try his luck this time after he failed to buy <keyword id="1336250" type="UNKNOWN" weightage="60" keywordseo="Deccan-Charger">Deccan Charger</keyword> in 2012, industry sources said. 
	 
	(Image: Reuters)

Somebody's loss is somebody's gain! India Inc biggies eye IPL team after ban on CSK, RR

New Delhi, Jan 23 () JSW Steel on Thursday announced its plan to raise up to Rs 1,000 crore through issuance of non-convertible debentures.
 The proceeds will be used to meet long-term working capital requirements, refinance existing debt, general corporate purpose and ongoing capital expenditure, the Sajjan Jindal-led company said in a filing to BSE.
 "The committee of directors of the issuer (board)... approved the allotment of 10,000 rated, listed, secured, redeemable, nonconvertible debentures (NCDs) bearing a face value of Rs 10,00,000 each..., aggregating to Rs 1000,00,00,000," the company said.
 The shares of JSW Steel were trading at Rs 265.50 a piece on BSE, down 0.11 per cent from the previous close. SID ANS
ANS

JSW Steel plans to raise up to Rs 1,000 cr via NCDs

New Delhi, Jan 19 () Odisha expects work on the proposed Rs 53,700-crore integrated steel project at Jagatsinghpur in Paradip by Sajjan Jindal-led JSW Group to start soon following successful conclusion of a public hearing, a state official said on Sunday.
 The consent of local people to the 12 million tonne per annum steel project holds significance as South Korean steel gaint POSCO had to abandon its proposed Rs 52,000-crore steel project at the same site due to stiff opposition from the local people.
 "JSW's hearing was conducted peacefully and successfully. That is a huge development. The integrated project has been passed unopposed with almost same investment that POSCO was looking ... that is a change ... We expect the work to start soon on Rs 53,700 crore JSW project Utkal Steel Limited project," IPICOL Managing Director Nitin B Jawale said.
 The Industrial Promotion and Investment Corporation of Odisha (IPICOL) is the single point of contact for all industrial investments in the state. 
 "The success of this public hearing paves way for the establishment of an Integrated steel plant of 12 MTPA capacity, 10 MTPA cement plant and a 900-megawatt captive power plant by the Sajjan Jindal-led group, on an area of 2,980 acre. An all-weather multi-cargo greenfield jetty with handling capacity of 52 MTPA is also part of the project," Jawale said.
However, sources told that JSW has not received the required 2,980 acres of land and th project will take time as formalities, including land handover, erection of boundary, will take time.
When contacted, JSW declined to comment sighting silent period. The company's financial results are slated for January 24.
Jawale said conclusion of peaceful public hearing is a positive development for Odisha and "a major milestone in its industrialisation efforts" as the proposed steel plant is on the same site where the Korean steel giant POSCO's project was envisaged and there was no opposition from the locals.
"The erstwhile opponents of the POSCO project have also welcomed the JSW project now, demanding an ideal rehabilitation and resettlement package from the state government. This development will also help dispel the prevailing misconceptions about this region and with a major port in the vicinity the Paradip in Odisha is poised for diversified industrial growth," he said.
 POSCO had entered into a pact with Odisha government in 2005 to set up more than Rs 50,000 crore steel unit but dropped the plan after facing stiff opposition from locals for more than a decade. 
The official also claimed that Odisha recently toppled Maharashtra in attracting new investments in the first half of this fiscal and "cornered 18 per cent of virgin investments drawn by all states in the country." 
He said through progressive policy interventions called VISION 2030 , the state aims to do more than 50 per cent value addition to the metal produced in the state by the year 2030, by attracting and grounding downstream industries in metal sector. NAM MR

Odisha expects work on JSW steel proj to start soon after successful public hearing

Industrialist <keyword id="83507" type="PERSON" weightage="20" keywordseo="Sajjan-Jindal">Sajjan Jindal</keyword> on Tuesday said measures needed to taken as early as possible to prevent the country's <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">economy</keyword> from falling into a slumber. His concerns come ahead of the scheduled end of the nationwide lockdown on May 3. The lockdown has had a positive effect in containing the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword>, but it is imperative to also move focus on economic wellbeing, the <keyword id="144036" type="COMPANY" weightage="20" keywordseo="JSW-Group">JSW Group</keyword> Chairman said. "We need to rise now to ensure that the economy does not fall into a slumber that will take huge efforts to awaken. A depression in the economy is also a threat to this nation," he said in a statement. The virus will be a threat till its vaccine is found, Jindal said. "However, we need to find ways to work within a 'new normal' to bring this economy back to capacity in the shortest period of time, " he said. To contain spread of highly contagious COVID-19 virus, the government had announced a 21-day lockdown from March 25, which was further extended till May 3. Initially a complete lockdown had impacted businesses in every sector of the economy. However, the government provided relaxation to industries from April 20 to lessen its impact on the economy. This move allowed many companies across sectors to resume their operations. A company spokesperson said <keyword id="45609" type="DOMAIN" weightage="20" keywordseo="JSW-Steel">JSW Steel</keyword>, which had reduced its production levels, has brought it back to the normal level. <keyword id="13852" type="COMPANY" weightage="20" keywordseo="JSW">JSW</keyword> Steel's all seven blast furnaces across country are now fully operational, he said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/data-of-coronavirus-patients-state-wise-in-india/articleshow/74669748.cms">Coronavirus cases in India state wise</a> <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a>

Urgent need for measures to prevent economy from falling into slumber, says industrialist Sajjan Jindal

<ul><li><keyword id="144036" type="General" weightage="70" keywordseo="jsw-group" source="Orion">JSW Group</keyword> is considering a foray into the manufacturing of EVs.</li><li>JSW Group company <keyword id="45609" type="DOMAIN" weightage="20" keywordseo="jsw-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="jsw steel" meta.entityname="JSW Steel Ltd." meta.entityid="8352" meta.seoname="jsw-steel-ltd">JSW Steel</keyword> owns and operates a one million tonne per annum (MTPA) steel plant at <keyword id="6357470" type="General" weightage="20" keywordseo="salem" source="Orion">Salem</keyword> in <keyword id="20154" type="General" weightage="20" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. </li></ul>Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. "The group had examined EV manufacturing plans earlier also but now it is becoming attractive," JSW Group Chief Financing Officer Seshagiri Rao told PTI. The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group's plan to expand its presence into more sectors. The group is looking to manufacture four-wheelers, Rao said. When asked about details of the manufacturing location, he said it is yet to be decided. On the timeline for the launch of an EV manufacturing facility, he said, "it (plan) is at advanced stages." JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers. Besides, the USD 22 billion group has a significant presence in sectors like energy, infrastructure, cement, paints, <keyword id="15308892" type="TOPIC" weightage="60" keywordseo="Venture-Capital" source="TOPIC" sourcekeytype="economy,investopedia" meta.keywordsubtype="null" meta.seopath="v/venture-capital" meta.entityname="Venture Capital" meta.hostid="153" meta.entityid="venture-capital">venture capital</keyword> and sports. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">All-new Apple CarPlay features to AI for automobiles — here are some car technologies expected to arrive in 2023</a> <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">CES 2023: Dates, news, products, and what to expect</a>

JSW Group mulls foray into EVs, to manufacture 4-wheelers

The <keyword id="3246313" type="UNKNOWN" weightage="100" keywordseo="steel-industry-of-india">steel industry of India</keyword> is passing through a rough patch these days, and for a strong boost, it has pinned its hope on the minimum import price (MIP) that was announced recently. Knowing that the annual budget plays an important role in the revival of the industry, it expects more relief measures from the upcoming budget, said JSW Steel CMD Sajjan Jindal. 
 
Not only this, the steel sector is also hopeful that the country's economy should grow by 8 to 8.5%, so that the industry can revive and flourish. Jindal was addressing reporters in Mumbai on the sidelines of 'Make in India' Week yesterday. 
 
JSW is a part of the OP Jindal group, and standing at USD 11 billion, it is one of the major players in the steel space in the country. 
 
Talking of the developments so far, the government had imposed an MIP on 173 steel products ranging between USD 341-752 per tonne, which would remain so for a period of six months only. 
 
Jindal also had his two cents to share on the upcoming budget. He said, "It should be a growth-oriented Budget. It has to look at micro factors and ensure how it would be possible to increase country's GDP from existing level of 7-7.5 per cent to 8-8.5 per cent in future." 
 
<a href="http://www.stiavelli.com/wp-content/uploads/2014/02/Steel-Industry-Electric-Motors-Industrial-Fan-Blowers-Stiavelli-FTA-3.jpg">Image source</a>

Steel industry pins hopes on upcoming budget for revival

New Delhi, Feb 24 () JSW Steel on Monday said it has been declared as a preferred bidder for Jajang iron ore block in Odisha.The Sajjan Jindal-led firm has bagged the iron ore mine in the auction of blocks in Odisha. The block holds estimated reserves of 39 million tonne."The company (JSW Steel) has been declared as a preferred bidder vide communication dated February 22, 2020 received from the Director of Mines, Odisha for an iron ore mine (Jajang iron ore block) in the auctions held by the government of Odisha on February 6, 2020," JSW Steel said in a BSE filing.The projected iron ore resource as on March 31, 2020 in this mine as per tender documents is around 39.40 million tonne, it said."The highest final offer price by the company to become a preferred bidder is 110 per cent of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines (IBM) in Odisha from time to time," JSW Steel said.The company will take all requisite steps as per the tender document to obtain the letter of intent.It will also take statutory clearances, execute a Mine Development and Production Agreement (MDPA) and start the mining operations. ABI ANU

JSW Steel declared as preferred bidder for Jajang iron ore block in Odisha

New Delhi, Apr 10 () Global steel industry body worldsteel has postponed the release of its Short Range Outlook (SRO), a publication on steel demand scenario, citing disruptions due to the coronavirus outbreak. The Brussels-based World Steel Association (worldsteel) said it now plans to release the outlook for April in the month of June. "In light of the unprecedented disruptions of the COVID-19 pandemic, worldsteel has taken the decision not to publish its April Short Range Outlook (SRO) for steel demand this month. "The current plan is to release a full SRO in early June when we trust the markets will have stabilised somewhat, as we see they are doing in China," the body said in a statement. However, worldsteel will share some observations on the market next week. The body further said the monthly publication of global crude steel production data is unaffected by recent events and the figures for March will be released on April 22. The World Steel Association (worldsteel) is one of the largest industry associations in the world, with members in every major steel-producing country. JSW Steel Chairman Sajjan Jindal is its vice chairman, while Tata Steel CEO and MD T V Narendran and ArcelorMittal Chief L N Mittal are member of its Executive Committee. Members represent around 85 per cent of global steel production. ABI ABMABM

COVID-19: World Steel Association defers publication of Short Range Outlook

New Delhi, Jan 2 () JSW Energy on Thursday said it has entered into a pact with Jaiprakash Power Ventures Ltd (JPVL) to restructure outstanding debt of Rs 751.77 crore owed to the company. 
Under the pact, an amount of Rs 351.77 crore will be converted into equity shares of JPVL with a face value of Rs 10 each and Rs 280 crore will be written off, JSW Energy said in a BSE filing.
"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 per cent of the re-structured sustainable debt to its secured lenders," the filing added.
Sajjan Jindal-led JSW Energy Ltd (JEL) said it has already made a provision for Rs 574.19 crore in March quarter 2018 for restructuring of the debt.
"Further, JPVL and the company have agreed to waive their respective rights to receive any payments from each other and unconditionally release each other from all liabilities in relation to the Securities Purchase Agreement dated November 16, 2014 for transfer of Karcham and Baspa hydro assets from JPVL to the Company," it added. 
 This will result in reversal of an amount of Rs 177.48 crore of liabilities payable to JPVL in JEL's books, it said. KKS KKS ANU
ANU

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