Tata Power Company Ltd (TPCL), India's oldest power generation company, targets to drastically cut its gross debt, launching infrastructure investment trust (InvIT) in the second half of this financial year. According to the estimates of experts, the company wants to reduce the debt by at least Rs 18,000-20,000 crore on its books through the process. N Chandrasekaran, chairman, Tata group said at the recent annual general meeting (AGM) that the company will reduce its gross debt to Rs 25,000 crore, which is at Rs 48,376 crore right now. He wants to achieve it through the sale of non-core assets, equity infusion from Tata Sons and formation InvIT and stake sale in it. Morgan Stanley Research values the 2,630 megawatts (MW) renewables portfolio of TPCL between Rs 18,500 crore and Rs 20,400 crore.