JSW Steel plans to raise up to Rs 1,000 cr via NCDs

NEW DELHI, Jan 23: JSW Steel on Thursday announced its plan to raise up to Rs 1,000 crore through issuance of non-convertible debentures.
The proceeds will be used to meet long-term working capital requirements, refinance existing debt, general corporate purpose and ongoing capital expenditure, the Sajjan Jindal-led company said in a filing to BSE.
“The committee of directors of the issuer (board)… Approved the allotment of 10,000 rated, listed, secured, redeemable, nonconvertible debentures (NCDs) bearing a face value of Rs 10,00,000 each…, aggregating to Rs 1000,00,00,000,” the company said.