JSW Steel shines on planning to raise funds via NCDs, Bonds

JSW Steel is currently trading at Rs. 262.50, up by 3.45 points or 1.33% from its previous closing of Rs. 259.05 on the BSE.

The scrip opened at Rs. 259.05 and has touched a high and low of Rs. 263.65 and Rs. 256.50 respectively. So far 93007 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 427.30 on 21-Sep-2018 and a 52 week low of Rs. 252.15 on 10-Jul-2019.

Last one week high and low of the scrip stood at Rs. 275.00 and Rs. 258.15 respectively. The current market cap of the company is Rs. 63500.38 crore.

The promoters holding in the company stood at 42.27 % while Institutions and Non-Institutions held 22.74 % and 34.99 % respectively.

JSW Steel is planning to raise funds via the issuance of Redeemable Non-Convertible Debentures (NCDs) by way of a Private Placement and issuance of Non-Convertible Senior Unsecured Fixed Rate Bonds denominated in foreign currency or Rupee in the International Markets.

The meeting of the Board of Directors has been convened to be held on July 26, 2019, to consider the same.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel, and flat steel products.

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