Jindal Stainless has received approval to raise funds, by way of issue of debt securities including secured or unsecured non-convertible redeemable debentures or bonds or commercial paper or notes (listed/unlisted) or any combination thereof, through private placement basis or otherwise, in one or more tranches or any other method in the domestic / international market as may be permitted under the applicable law up to an aggregate principal amount of Rs 5,000 crore or its equivalent in any freely convertible foreign currency.
The Board authorized its sub-committee, to determine and finalize the form, denomination, manner, terms and conditions of raising the aforesaid funds. The funds so generated will be used to refinance/redeem/repay existing financing arrangements, finance capital expenditure and/or for general corporate purposes (including financing of long term working capital and augmentation of cash flows of the Company). The board of directors at its meeting held on May 17, 2023 has 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.
