Jindal Stainless has received approval to raise funds by way of issue of upto 990 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) having face value of Rs 10 lakh aggregating to Rs 99 crore through private placement basis. The funds raised by the issue of NCD’s will be utilized towards, repayment of existing debt and high-cost debt facilities, part funding of capital expenditure (including maintenance capex), long term working capital requirements, and reimbursement of capital expenditure for last 6 months.
The Board of Directors of Jindal Stainless at its meeting held on September 23, 2022, inter alia, considered and approved the same.
Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
