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JSW Steel gets nod to raise additional long term funds

29 May 2014 Evaluate

JSW Steel has received an approval to raise additional long term funds. The board of directors at its meeting held on May 27, 2014 has approved for the same. This step has been taken to part finance the company’s capital expenditure needs and/or for other general corporate purposes, including the reduction of leverage.

The company received approvals for issue of Non-Convertible Debentures (NCDs) along with warrants and/or convertible securities other than warrants convertible into equity shares, to eligible Qualified Institutional Buyers (QIBs), in one or more tranches, through a Qualified Institutional Placement not exceeding a sum of Rs 4,000 crore in the aggregate; and /or issue of Global Depository Receipts / American Depository Receipts / Foreign Currency Convertible Bonds and/or any other instrument(s) convertible into equity shares in the international capital market, optionally or otherwise, in one or more tranches, not exceeding $350 million in the aggregate; and/or issue of non-convertible foreign currency denominated bonds not exceeding $2 billion  in the aggregate in the international capital market.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

JSW Steel Share Price

1239.90 24.35 (2.00%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Tata Steel 212.05
JSW Steel 1239.90
SAIL 173.50
Jindal Stainless 787.90
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