Jindal Steel and Power (JSPL) has raised Rs 1,000 crore by issuing 10,000 non-convertible debentures (NCDs) for cash to Kotak Mahindra Bank. The company did not mention the purpose of the fund. However, JSPL along with its subsidiary Jindal Power are needed to pay around Rs 1,800 crore fine, as per the Supreme Court directive, for illegal coal mining.
The apex court had quashed allocation of 214 coal blocks alloted to various companies since 1993 and ordered allottees to pay Rs 295 per tonne of coal extracted from these mines.
JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
| Company Name | CMP |
|---|---|
| Jindal Steel | 1269.50 |
| Lloyds Metals&Energy | 1622.70 |
| Jai Balaji Inds | 72.59 |
| Steel Exchange India | 8.96 |
| Rajputana Stainless | 125.90 |
| View more.. | |
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