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Mounting Debt Concerns For Jaypee Group

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August 2: With Rs.15,000 crores of market cap being wiped out and the stock down over 60%, we ask Manoj Gaur, Executive Chairman at JP Associates, about the company’s debt situation. The Jaypee Group, which covers three companies, has a total outstanding debt of $7.5 billion, he says. “All three companies have robust business models and strong fundamentals, but we will be taking concrete steps this year to reduce debt through cement divestments,” he adds.