Comments
Jindal Steel and Power Ltd (JSPL) has raised ₹ 1,200 crore through a Qualified Institutions Placement (QIP) issue launched on March 20.
A company statement said, “The board of JSPL approved the issuance of shares at ₹ 233 per share, which was ₹ 5.85 above the floor price. The order book was oversubscribed with significant interest coming from domestic and foreign long term investors.”
The funds from this equity raise are expected to be used primarily for working capital requirements, payment of operational and capital expenditure creditors and repayment of certain long term loans, the statement added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.