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Jindal Steel and Power to raise Rs 10 bn via QIP in February: Naveen Jindal

The company is evaluating options of listing in London, Dubai or Muscat: Sources

Press Trust of India  |  Angul (Odisha) 

JSPL, IPO, Oman, Naveen Jindal
Naveen Jindal (Photo:

Steel and Power Ltd (JSPL) will raise Rs 10 billion through (QIP) route in February, its chairman said.

Besides, the company also plans to raise up to Rs 20 billion by listing its business on

"We will raise Rs 10 billion by equity sale next month," told PTI.

He also said there is a plan to raise another Rs 15 billion- 20 billion in just four months by listing operations on foreign exchanges.

If both figures are added then about Rs 30 billion will be raised by during 4-6 months, Jindal said without disclosing that on which exchange will be listed.

A source privy to the development said: "The company is evaluating options of listing in London, Dubai or Muscat".

Jindal also said that is regularly servicing all its debt commitments and the company's all plants are working in full swing. By May, "our overall capacity will be 11 million tonnes per annum".

The domestic capacity, he said, will reach 9 MT by March-end and "will reach its full capacity by May, India will be number 2 position in the world in steel making. I am sure other people will also increase their capacity. I feel by May, India will definitely be number 2 (by then)".

The company has a 2 MTPA integrated steel plant at Sohar, Oman where it had recently commissioned a 1.5 MTPA Bar Mill. It had also launched Jindal Panther TMT Rebar brand in the middle east markets. had acquired Shadeed Iron and Steel in 2010.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sun, January 07 2018. 17:03 IST