Company downgraded on deterioration of consolidated net leverage amid decline in fund flow from operations
Proceeds will be used to meet long-term capex needs and refinancing of expensive debt to reduce interest costs
The project would create up to 30,000 additional indirect jobs
Shares of JSW Steel were trading 0.10% lower at Rs 1,404 apiece on the Bombay Stock Exchange
Crude steel production stood at 13.48 lakh tonnes in May
The profit was up 174 per cent from the corresponding period last year
Benefits of minimum import price should reflect from June quarter; new capacities will drive volumes
Concerns on weak Europe environment, liabilities of Tata UK ops, and JSW's debt
Sajjan Jindal-owned firm one of the seven bidders; deal would add 5.5-mt capacity
In 2014, JSW Steel unsuccessfully bid to buy some assets from Italy's 2nd-largest steelmaker, Lucchini.