/ JSW Steel To Raise Rs 8,000 Crore Seeks Shareholder Nod ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 19 June 2017

JSW Steel plans to seek approval of shareholders to mobilise Rs 8,000 crore through a Qualified Institutional Placement (QIP) in 2017-18. The company wants to fund its capital expenditure plan of Rs 26,800 over the next four years.

The company intends to raise a total amount of Rs 10,000 crore, during the financial year in one or more tranches. It is also looking to get shareholder nod for raising foreign currency convertible bonds of USD 1 billion through the international capital market.

JSW's CapEx plan of Rs 26,815 crore will include Rs 15,000 crore raised through debt and rest through equity and internal accruals reported a leading news agency.

Meanwhile, JSW Steel was up 1.5% at Rs 198.15 per share at 1359 hours IST on BSE. It hit a high of Rs 199 and a low of Rs 194 so far during the day.

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