JSW Steel to raise up to Rs 2,000 cr via NCDs

Sajjan Jindal-led JSW Steel today said its board has given approval for raising funds up to Rs 2,000 crore through issuance of non-convertible debentures.
"The board has approved the raising of funds not exceeding Rs 2,000 crore in the aggregate, through the issuance of redeemable non-convertible debentures either by way of a public issue or... Private placement," the company said in a filing to BSE.
The board has authorised a sub-committee of directors to decide on all matters relating to the proposed issuance of the debentures, including finalisation and approval of the detailed terms of issue, it said.
The issue proceeds would be majorly used for refinancing of expensive debt, to meet long term working capital requirements, normal capital expenditure and for general corporate purposes, it said.

JSW Steel Ltd is engaged in manufacture of flat and long products, including hot rolled coils, cold rolled coils, galvanised products, galvalume products, colour coated products, auto grade/white goods grade flat products, bars and rods.
Incorporated in 1994, JSW Steel is a one of the leading producers and exporters of coated flat products in the country.