JSW Steel Ltd.

JSW Steel has asked for shareholders’ approval to increase the borrowing limit by up to 60% at Rs 40,000 crore. The company has taken this decision of raising borrowing limit expecting an increase in funding requirement for its ambitious expansion plans. The steel company plans to raise the limit for various capex programmes including acquisition.

At the end of last fiscal, the company had Rs 21,346 crore consolidated debt, which excludes Rs 6,500 crore debt of JSW Ispat, which was merged with the firm few weeks back, while it has a borrowing limit of Rs 25,000 crore.