Markets

JSPL to raise Rs 1,200 crore via QIP

PTI New Delhi | Updated on March 23, 2018 Published on March 23, 2018

Jindal Steel and Power Ltd plans to raise Rs 1,200 crore through qualified institutional placement (QIP) and has set an issue price of Rs 233 per share.

The company proposes to issue and allot up to 51,502,145 equity shares at an issue price of Rs 233 per share aggregating a total issue size of approximately Rs 1,200 crore, JSPL said in a filing to the BSE.

JSPL has presence in steel, power, mining and infrastructure sectors. The company operates coal-based sponge iron plant and has an installed capacity of 3 MTPA (million tonnes per annum) of steel at Raigarh in Chhattisgarh.

Shares of JSPL were trading 5.16 per cent lower at Rs 213.15 on the BSE.

Published on March 23, 2018
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