JSW Steel Ltd.

JSW Steel is seeking shareholders' approval to raise Rs 4,000 crore through qualified institutional placement (QIP). Proceeds of the issue will be used for capital expenditure and refinancing high-cost debt, besides meeting unlikely shortfall in unforeseen circumstances.

The company has stated that it is in the interest of the company to raise long-term resources with convertible option to optimise capital structure for future growth. The economy is poised for robust growth, backed by strong macroeconomic factors and government’s pro-growth policies.

JSW Steel will be completing its brownfield expansion to reach 18 million tonne per annum capacity by the end of this fiscal. It has a strategic vision to reach 40-mtpa capacity by 2025 with significant investment in mineral resources such as iron ore and coal.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.