India: JSPL revises disinvestment plan for arm after investor feedback

Domestic metals and mining company Jindal Steel and Power Ltd (JSPL) has revised the disinvestment plan of the company’s subsidiary Jindal Power Ltd (JPL). The company has also offered a revision from Worldone (a promoter entity). In a statement, the company said that the decision to revise the offer was taken after taking into consideration all of the investor feedback received by the company post its initial offer in May, which had drawn flak from a section of investors who cited low valuation of the deal and related party nature of the transaction as contentious issues.