Mumbai :Jindal Steel & Power is considering a breakup plan as part of a restructuring to help trim its Rs 42,000 crore debt pile and boost investor confidence in the company.
The company is looking at splitting its steel, power and international businesses into three separate entities, Chairman Naveen Jindal said, according to a Bloomberg report. The plan would need the approval of lenders, regulators and the board, he said. The steel unit would include the coal mines, while the international business would include the Oman steel plant, he said.
Jindal Steel will seek to progressively sell about 30 per cent of the Oman unit over two to three years, and this may partly be achieved through an initial public offer, he said.
