JSW Group repays Rs 1,200 cr loan by releasing pledged shares

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SME Times News Bureau | 15 Oct, 2019
Sajjan Jindal-led JSW Group on Tuesday said that the group has repayed loans worth Rs 1,200 crore by releasing pledged shares in JSW Steel and JSW Energy with a combined value of Rs 2,500 crore.

The group released 7.01 crore shares of JSW Steel and 11.88 crore shares of JSW Energy, the group said

"It released 7.01 crore JSW Steel shares (2.90 per cent paid-up capital) and 11.88 crore JSW Energy shares (7.24 per cent paid-up capital)," the company said in a statement.

Four promoter entities of JSW Steel -- JSW Holdings Ltd, JSW Techno Projects Management Ltd, Sahyog Holdings Pvt Ltd and Vividh Finvest Pvt Ltd -- and two promoter entities of JSW Energy -- Indusglobe Multiventures and JSW Investments released their pledged shares and repaid the debt.

The move is aimed at reducing its overall debt level. In September also, the group had released shares worth Rs 1,140 crore.