JSW Steel surges on getting nod to raise funds up to Rs 17,000 crore through various securities
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JSW Steel is currently trading at Rs. 703.55, up by 10.50 points or 1.52% from its previous closing of Rs. 693.05 on the BSE.
The scrip opened at Rs. 698.95 and has touched a high and low of Rs. 705.15 and Rs. 687.70 respectively. So far 39642 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 783.35 on 02-Jan-2023 and a 52 week low of Rs. 520.10 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 710.60 and Rs. 681.30 respectively. The current market cap of the company is Rs. 168806.59 crore.
The promoters holding in the company stood at 45.40%, while Institutions and Non-Institutions held 36.00% and 18.60% respectively.
JSW Steel’s board has approved plans to raise funds up to Rs 17,000 crore through the issuance of various securities and tap the international markets to mop up $1 billion. An amount totaling Rs 17,000 crore is proposed to be raised through the issuance of convertible securities and non-convertible debentures (NCDs), among other instruments.
Besides, the board has approved a proposal to raise $1 billion through the issuance of non-convertible senior unsecured fixed-rate bonds in the international markets.
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.
