Jindal brothers sign ₹6,500 crore power deal
Billionaire Sajjan Jindal-led JSW Energy has agreed to buy a 1,000 MW power plant from his brother Naveen Jindal’s debt-ridden Jindal Steel and Power in a deal valued at up to $976 million (₹6,500 crore), the companies said on Wednesday. Jindal Steel's net debt at the end of 2015 stood at ₹46,000 crore, seven times its current market valuation.