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Board of Jindal Stainless approves various fund raising options

Capital Market 

At meeting held on 05 August 2019

The Board of Jindal Stainless at its meeting held on 05 August 2019 has approved the following -

1. Issue of equity shares up to Rs 29 crore to JSL, a promoter group entity on preferential basis, for the purpose of redemption of optionally convertible preference shares issued by the company to its lender.

2. Issue of NCDs of up to Rs 900 crore on private placement basis primarily to refinance existing debt/ convertible instruments.

3. Issue of securities for an aggregate amount of up to Rs 1200 crore on preferential allotment basis and/or qualified institutional placement and/or rights offering or any combination thereof.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 06 2019. 10:50 IST