Jindal Steel & Power (JSPL) has raised Rs 300 crore by issuing 3,000 unsecured, redeemable non-convertible debentures (NCDs) having face value of Rs 10 lakh to HDFC Bank. The debentures has got a tenor of 1,095 days from the date of allotment and carry 9.63% rate of interest which is payable on an annual basis. Credit rating agency, CARE has assigned AA (+) rating to the NCDs.
JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
