JSW Steel Ltd.

JSW Steel, a leading alloy-maker, will be seeking shareholders’ approval to raise up to Rs 4,000 crore through Qualified Institutional Placement (QIP) and Rs 10,000 crore from selling non-convertible debentures (NCDs). The NCD sale may be carried out in one or more tranches during the current financial year on a private placement basis.

The proceeds of the issue will be used for long-term funding to meet the planned capital expenditure and for other corporate purposes, including refinancing of expensive debt, to reduce interest costs and meet any unlikely shortfall in unforeseen circumstances.

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.