JSW Steel plans to raise Rs 10,000 cr this fiscal
Shares of the company today ended down 0.13 per cent at Rs 194.85 apiece.
By : DC Correspondent
Update: 2017-06-03 07:29 GMT
New Delhi: JSW Steel will seek shareholders' approval to raise up to Rs 10,000 crore through various financial instruments.
The proposal is to be taken up during the company's annual general meeting to be held on June 29.
According to the notice sent to shareholders, JSW Steel would seek nod "for making offer(s) or invitations to subscribe to secure/unsecured redeemable non-convertible debentures in one or more tranches, aggregating up to Rs 10,000 crore during financial year 2017-18".
The proceeds would be utilised towards capital expenditure, refinancing of existing loans and other activities. Shares of the company today ended down 0.13 per cent at Rs 194.85 apiece.