Jindal Steel and Power (JSPL) is likely to raise upto Rs 3,500 crore via bond issue in domestic market, say exclusive sources. The proceed of the issue will be used for expanding capacities in steel and power businesses.
Though JSPL refused to comment on the story, it is also learnt that the firm will begin road shows to publicise its fund raising programme.
JSPL is keen to expand reach in domestic market and hence has lined up huge investment for its Orissa plant, of which it intends to increase capacity from 6 mtpa (million tonnes per annum) to 20 mtpa.
Read This: JSPL acquires 31.49% stake in Gujarat NRE Coking Coal
Earlier this month, the Naveen Jindal-led firm raised Rs.300 crore by issuing 3,000 unsecured, redeemable non-convertible debentures (NCDs) to HDFC Bank.
Did you read: Sell Jindal Steel & Power, says Sukhani
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
