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Jayaswal Neco Industries trades higher on planning to raise funds upto Rs 3200 crore
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Jayaswal Neco Industries is currently trading at Rs. 35.00, up by 0.22 points or 0.63% from its previous closing of Rs. 34.78 on the BSE.
The scrip opened at Rs. 34.10 and has touched a high and low of Rs. 35.00 and Rs. 34.10 respectively. So far 2738 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 42.79 on 12-Sep-2023 and a 52 week low of Rs. 20.25 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 38.00 and Rs. 32.07 respectively. The current market cap of the company is Rs. 3398.49 crore.
The promoters holding in the company stood at 48.03%, while Non-Institutions held 51.97% stake in the company.
Jayaswal Neco Industries is planning to raise funds upto an amount of Rs 3200 crore for, inter alia, refinancing of existing debt of the company, by way of issuance of unlisted, secured, redeemable, non-convertible debentures (NCDs) in one or more series/ tranches, on private placement basis. The meeting of the Board of Directors of the Company is scheduled on November 3, 2023, inter alia, to consider and approve the same.
Jayaswal Neco Industries (JNIL), the flagship company of the NECO group in India, is the largest producer of Iron and Steel Castings, Pipes and Fittings.
