JSW Steel allots NCDs worth Rs 875 cr on private placement basis
The NCDs of Rs 10 lakh each which aggregates to Rs 875 crores will be issued to investors that were identified in a meeting held on Thursday by the Finance Committee of the Board of Directors.
JSW Steel allots NCDs worth Rs 875 cr on private placement basis | Representative image/ JSW Steel
JSW Steel Limited on Friday announced the allotment of 8,750 unsecured, redeemable, listed, and rated non-convertible debentures (NCDs) through an exchange filing. The NCDs of Rs 10 lakh each, which aggregate to Rs 875 crores, will be issued to investors that were identified in a meeting held on Thursday by the Finance Committee of the Board of Directors.
The NCDs will mature in five years from the date of allotment, and the company will pay an annual coupon of 8.25 per cent. The debentures have a call and put option available during this time. The dates for the call option are March 21, 2025, and December 23, 2025, while the put option date is December 23, 2025.
Earlier this month, the company announced that JSW Steel's CDP ratings had been upgraded to 'A'.
For the month of November 2022, JSW Steel's standalone crude steel production went up by 16 per cent year-on-year to 16.90 lakh tonnes. The flat rolled production for the same month increased to 11.86 lakh tonnes and the production of long rolled products went up to 3.47 lakh tonnes.
On Friday at 12.57 pm the share price of JSW Steel Limited was at Rs 730.75, up by 0.92 per cent.
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