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JSW Steel on Thursday announced its plan to raise up to Rs 1,000 crore through issuance of non-convertible debentures.
The proceeds will be used to meet long-term working capital requirements, refinance existing debt, general corporate purpose and ongoing capital expenditure, the Sajjan Jindal-led company said in a filing to Bombay Stock Exchange (BSE).
“The committee of directors of the issuer (board) approved the allotment of 10,000 rated, listed, secured, redeemable, non-convertible debentures (NCDs) bearing a face value of Rs 10,00,000 each, aggregating to Rs 1000,00,00,000,” the company said.
The shares of JSW Steel were trading at Rs 265.50 a piece on BSE, down 0.11 per cent from the previous close.
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