JSW Steel to mull fund raising on May 27

JSW Steel on Tuesday announced that the company's board will meet on Friday, 27 May 2022 to consider raising of long term funds, including but not limited to Qualified Institutions Placement.

The fund raising is subject to regulatory/statutory approvals as may be required. On the same day, the board will also consider the audited financial results of the company for the quarter and year ended 31 March 2022 and the recommendation of payment of dividend on the equity shares of the company.

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company with a steel-making capacity of 28 MTPA in India & USA, including capacities under joint control & new capacity to be commissioned at Dolvi during this year.

The steel manufacturer's consolidated net profit surged 69.20% to Rs 4,516 crore on 74.16% jump in total revenue from operations to Rs 38,071 crore in Q3 FY22 over Q3 FY21.

Shares of JSW Steel were trading 1.45% lower at Rs 539.65 on BSE.

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