India: Jaiprakash Power Ventures sells the family silver

India: Jaiprakash Power Ventures sells the family silver

Despite key operational assets being sold off, and at valuations which are lower than earlier anticipated—JP Power is going to receive only Rs.9,275 crore now, compared with the earlier Rs.9,700 crore—investors seem to be happy that the firm’s debt burden will come down. Photo: Mint

It’s never a good feeling selling the family silver, but what does one do when creditors are baying at the door? Jaiprakash Power Ventures Ltd’s sale of its Karcham Wangtoo and Baspa hydropower plants to JSW Energy Ltd was met with a thumbs up from investors, who drove the stock up 5%.

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