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Jindal Stainless gets nod to mop up Rs 1,552 crore

27 Sep 2012 Evaluate

Jindal Stainless has received members’ approval to mop up about Rs 1,552 crore by issuing securities to meet its capex need and debt repayment among various others. From the total of Rs 1,552 crore, the company will raise $150 million through issue of equity shares, secured or unsecured debentures and bonds among others in one or more tranches, while, Rs 750 crore would be raised through qualified institutional placement in one or more tranches.

The fund raised would be used for meeting the long-term growth plans including the expansion of the existing facilities, key acquisitions, repayment of debt, working capital requirements and general corporate expenses.

Jindal Stainless manufactures stainless steel slabs, blooms, hot rolled and cold rolled coils, 60% of which are exported worldwide. It has a stainless steel making facility at Hissar and a ferro alloy plant at Vizag.

Jindal Stainless Share Price

787.90 -1.55 (-0.20%)
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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