JSW Steel today said its Board will meet next week to consider raising long term funds through issuance of non convertible debentures (NCDs) and fixed rate bonds. A meeting of the company’s Board of Directors is to be held on May 17 and it “would be considering raising of long terms funds”, JSW Steel said in a BSE filing.
It said the funds will be raised through issuance of redeemable NCDs by way of placement and issuance of non convertible senior unsecured fixed rate bonds denominated in foreign currency or rupee, in the international markets. The company, however, did not elaborate on the quantum and purpose of raising funds.
Shares of the company were trading 1.25 per cent higher at Rs 193.70 apiece on BSE.