JSPL to raise Rs1K crore via QIP in February

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press trust of india
Angul, Jan 7: Jindal Steel and Power Ltd (JSPL) will raise Rs1,000 crore through qualified institutional placement (QIP) route in February, its chairman Naveen Jindal said here.
Besides, the company also plans to raise up to Rs2,000 crore by listing its Oman business on foreign exchange. “We will raise Rs 1,000 crore by equity sale next month,” Jindal said. He also said there is plan to raise another Rs1,500 crore to Rs2,000 crore in just four months by listing Oman operations on foreign exchanges.
If both figures are added then about Rs 3,000 crore will be raised by JSPL during 4-6 months, Jindal said without disclosing that on which exchange Jindal Shadeed Oman will be listed.
A source privy to the development said: “The company is evaluating options of listing in London, Dubai or Muscat”. Jindal also said that JSPL is regularly servicing all its debt commitments and all the company’s plants are working in full swing. By May, the company’s “overall capacity will be 11 million tonnes per annum”.
The domestic capacity, he said, will reach 9 MT by march-end and “Angul will reach its full capacity by May, India will be number 2 position in the world in steel making.”