JSW Steel board approves plans to raise up to Rs 17,000 cr; $1 bn from international markets

In addition to the issuance of convertible securities and non-convertible debentures, the board also approved raising Rs 3,000 crore through private placement and/or public issuance. The funds will be used to replace short-maturity loans, meet working capital requirements, reimburse capex, and for general corporate purposes. A fresh approval is being sought from shareholders for its previous plan to raise Rs 14,000 crore through the issuance of non-convertible debentures and convertible securities.

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