Tata Power on Thursday talked about its Mundra subsidiary has made the 2nd tranche of compensation for its bank loans. With this, the corporate talked about, all of the unit’s bank loans were fully repaid.
In an announcement to the BSE, Tata Power talked about Coastal Gujarat Power (CGPL), a unconditionally owned subsidiary of the firm, repaid Rs 1,550 crore of bank loans on Wednesday. CGPL homes Tata Power’s Mundra extremely-mega energy mission, basically basically based in Gujarat.
“This circulate is in accordance with the corporate’s talked about fair of repaying debt in CGPL to lower the periodic debt servicing obligations of CGPL and thus making its operations more self-sustainable.”
The assertion talked about the subsidiary in October repaid Rs 2,600 crore of bank loans. “With this compensation (Rs 1,550 crore) and an earlier compensation of Rs 2,600 crore of bank loans made in October 2020, the full bank loans of CGPL, aggregating to Rs 4,150 crore, were fully repaid.”
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