Jindal Jhajjar Power to raise Rs.2,100-Cr debt for plant acquisition

Jindal Jhajjar Power Ltd (JJPL) is raising INR 2,100 crore through a combination of a term loan and non-convertible debentures (NCDs). The term loan will account for about INR 1,500 crore with an 11.25-year tenor, while the NCDs will be redeemed in the second and third years.JJPL will use the funds from the loan to acquire a 1,320 MW thermal power plant in Haryana from Apraava Energy Pvt Ltd at an enterprise value of INR 4,000 crore. The total cash consideration for the transaction is around INR 3,006 crore.