Will Cut Debt By Rs.1,300 Cr Post Ultratech Deal: Manoj Gaur
  • Elizabeth George
  • Sep 12 2013

September 12: After selling its Gujarat cement unit to Ultratech, Jaypee Group Chairman Manoj Gaur says the deal will reduce Jaypee’s Rs.23,000 crore debt by 15%. Calling the economic contraction a challenge, he hints at a possibility of further divestments in cement, power and other segments. Referring to the share transfer part of the deal, he says, “Ultratech is a gold-chip company and the option of a share sale is always open.”