JSPL may raise $1 bn via bond issue

JSPL is mulling raising up to USD 1 billion via bond issue by the end of current fiscal year or latest by July 2015. The company’s finance team is working on a detailed fund reduction plan and is identifying various modes of fund raising. At one point, it had ever considered a QIP.

Aside from looking at reducing debt, which was at around Rs 35,000 crore as per the last reported data, the company is also looking at operational expansion. There are multiple areas where it needs capex. Infact, the company may not stop with just USD 1 billion and may raise further.

JSPL on its part says the company has always engaged in raising money through appropriate instruments. It has not appointed any investment banker as yet for the proposed bond issue.