JSL Stainless gets nod to mop up Rs 750 crore via QIP

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

01 Dec 2011 Evaluate

JSL Stainless has received its shareholders’ approval to mop up Rs 750 crore through qualified institutional placement (QIP), which could be used to part-fund the Rs 6,000 crore stainless steel manufacturing plant in Orissa. The company’s board gave its approval for the same earlier on November 03, 2011.

JSL 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.

Peers

Company Name	CMP
JSW Steel	1273.20
Tata Steel	186.95
Steel Authority	176.90
Jindal Stainless	734.20
APL Apollo Tubes	2153.45
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