JSW Steel board approves ₹19,000 Crore fundraise via QIP

26 May 2025 , 10:30 AM

JSW Steel Limited announced in its filing with the bourses that its board has approved a comprehensive fundraising plan of up to ₹19,000 Crore. The fundraise can either be through a combination of equity-linked and debt instruments.

The board has approved raising of ₹7,000 Crore through equity shares and/or convertible securities. Furthermore, it plans to raise ₹7,000 Crore via issue of non-convertible debentures with warrants convertible into equity shares.

The business said that stated issuances may be exercised either individually or together, subject to approval from shareholders and regulatory approvals.

A new enabling resolution will be passed in July 2024, and will be placed before shareholders at the meeting.

Additionally, the board has approved raising of up to ₹5,000 Crore via secured or unsecured, redeemable NCDs through private placement or public issuance. The company shall utilise the funds to refinance short-term borrowings, to meet out capex and working capital requirements, and for other general corporate purposes.

The business posted a consolidated net profit of ₹1,501 Crore, registering a growth of 14% on a year-on-year basis. The business logged a revenue of ₹44,819 Crore, lower by 3% on a year-on-year basis.

At around 10.27 AM, JSW Steel was trading 0.71% lower at ₹1,001.30 per piece, against the previous close of ₹1,008.50 on NSE. The counter touched an intraday high and low of ₹1,022.50, and ₹1,001, respectively.

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