SBI Led Consortium To Sell 51 Per Cent Stake In Odisha Power Plant


SBI Led Consortium To Sell 51 Per Cent Stake In Odisha Power Plant

A consortium of lenders led by State Bank of India has invited bids to sell 51 per cent stake in Jindal India Thermal Power Ltd (JITPL) located in Odisha.

JITPL, a B C Jindal group company, was formed in 2001 as a special purpose vehicle for development of coal based thermal plant located in Angul district of Odisha.

As on June 30, 2017, the consortium of 17 lenders had a total loan exposure of Rs 5,902.43 crore in JITPL, as per the bid document.

State Bank of India (SBI) has the highest exposure of Rs 1,413.89 crore (23.95 per cent of the total loan amount), followed by Punjab National Bank Rs 985.38 crore (16.69 per cent); Axis Bank Rs 584.89 crore (9.91 per cent); ICICI Bank Rs 406.05 crore (6.88 per cent) and Bank of Baroda Rs 337.01 crore (5.71 per cent).

UCO Bank has loan exposure of Rs 295.45 crore (5.01 per cent); Union Bank of India Rs 289.67 crore (4.91 per cent) and United Bank of India Rs 278.28 crore (4.71 per cent). Read More…

 

 

 

 

Credit By: ET Energy World

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