JSW Steel would consider a share sale to a strategic investor to raise long-term funds. According to sources, Japanese company JFE will buy around 14% stake for at least Rs 4,000 crore. JFE has a technical collaboration with JSW for production of auto body steels in
The stake sale is likely to happen at a minimum price of Rs 1,210 per share, the rate at which the promoters bought 17.5 million warrants last month. The proceeds of the share sale will be used to reduce the company’s debt. JSW intends to bring down the debt-equity ratio to nearly 1 from the existing 1.69.
JSW’s debt stood at Rs 16,000 crore and networth at Rs 9,500 crore. By the end of this fiscal, debt is expected to go up by Rs 4,000 crore and networth by Rs 3,000 crore. The country’s third-largest steel company is investing Rs 7,000 crore for expansion of capacity from 7.8 million tonne per annum (mtpa) to 11 mtpa. crackcrack
| Company Name | CMP |
|---|---|
| Tata Steel | 206.60 |
| JSW Steel | 1215.20 |
| SAIL | 166.10 |
| Jindal Stainless | 779.95 |
| APL Apollo Tubes | 2064.15 |
| View more.. | |
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