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Jindal Stainless zooms on getting nod to raise funds through various modes

Jindal Stainless Ltd. | Steel & Iron Products | Metals & Mining | BSE: 532508 | NSE: JSL

18 May 2023 Evaluate

Jindal Stainless is currently trading at Rs. 299.90, up by 19.55 points or 6.97% from its previous closing of Rs. 280.35 on the BSE.

The scrip opened at Rs. 278.00 and has touched a high and low of Rs. 303.95 and Rs. 278.00 respectively. So far 162156 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 329.00 on 08-Mar-2023 and a 52 week low of Rs. 95.05 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 303.95 and Rs. 270.55 respectively. The current market cap of the company is Rs. 24731.86 crore.

The promoters holding in the company stood at 57.94%, while Institutions and Non-Institutions held 28.07% and 13.09% respectively.

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.

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
APL Apollo Tubes	2105.45
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Jindal Stainless zooms on getting nod to raise funds through various modes

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