JSW Steel plans to raise up to Rs 1,000 cr via NCDs

New Delhi, Jan 23 () JSW Steel on Thursday announced its plan to raise up to Rs 1,000 crore through issuance of non-convertible debentures.

The proceeds will be used to meet long-term working capital requirements, refinance existing debt, general corporate purpose and ongoing capital expenditure, the Sajjan Jindal-led company said in a filing to BSE.

"The committee of directors of the issuer (board)... approved the allotment of 10,000 rated, listed, secured, redeemable, nonconvertible debentures (NCDs) bearing a face value of Rs 10,00,000 each..., aggregating to Rs 1000,00,00,000," the company said.

The shares of JSW Steel were trading at Rs 265.50 a piece on BSE, down 0.11 per cent from the previous close. SID ANS ANS