Saturday, Apr 20, 2024 | Last Update : 02:07 AM IST
JSW Steel raises USD 500 mn through unsecured notes
Company plans to bid for iron ore and coking coal mines in the upcoming auctions.
New Delhi: Sajjan Jindal-led JSW Steel has raised USD 500 million (around Rs 3,234 crore) through an issue of fixed rated senior unsecured notes.
"The company has raised USD 500 million by allotment of fixed rate senior unsecured notes," JSW Steel said in a filing to BSE today. The notes will be listed on Singapore Exchange Securities Trading Ltd, the company said.
The company had earlier said that it is "capable" of spending up to USD 1 billion (around Rs 6,500 crore) per annum on both capacity expansion and acquisitions.
The company plans to bid for iron ore and coking coal mines in the upcoming auctions, JSW Steel Joint MD and Group CFO Seshagiri Rao had said.
It would participate in the auction of two iron ore mines in Odisha and of coking coal mines in Jharkhand, he had said. The company imports around 8 million tonnes of coking coal every year.
JSW Steel, the flagship firm of USD 11 billion JSW Group, has plants spread across six locations in Karnataka, Maharashtra and Tamil Nadu. Shares of the company fell by 1.16 per cent to close at Rs 196.40 on BSE.
