JSW Steel is reportedly planning to raise Rs 8,000 crore through a Qualified Institutional Placement (QIP) in 2017-18 to fund its ambitious capital expenditure plan of Rs 26,800 over the next four years to augment capacity. The QIP will be part of the total amount of Rs 10,000 crore that the company might be looking to raise during the financial year in one or more tranches.
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. The company has reported crude steel production of 13.57 lakh tonnes in May 2017 with a growth of 1% compared to 13.48 lakh tonnes over the corresponding month in 2016.
