Jindal Stainless allots NCDs for Rs. 375 crores

The Board of Directors of Jindal Stainless Limited ("the Company") had, earlier approved to raise funds, along with any other co-issuer, by way of issue of debt securities including secured or unsecured non-convertible redeemable debentures or bonds or commercial paper or notes (listed/unlisted) or any combination thereof, through private placement basis or otherwise, in one or more tranches or any other method in the domestic/ international market as may be permitted under the applicable law(s) up to an aggregate principal amount of Rs. 3,500 Crore or its equivalent in any freely convertible foreign currency.

The sub-Committee of the Board of Directors of the Company at its meeting held today i.e. 24th February, 2022, has allotted 3,750 Listed, Rated, Unsecured, Redeemable, Non-Convertible Debentures having nominal value of Rs. 10,00,000/- (Rupees Ten Lakh Only) each, aggregating to Rs. 375,00,00,000/- (Rupees Three Hundred Seventy Five Crore only) to the investors identified by the Sub-Committee at its meeting held on 23 February 2022.

Shares of Jindal Stainless Limited was last trading in BSE at Rs. 176.65 as compared to the previous close of Rs. 191.95. The total number of shares traded during the day was 331724 in over 5843 trades.

The stock hit an intraday high of Rs. 187.70 and intraday low of 173.40. The net turnover during the day was Rs. 59913467.00.

Source : Equity Bulls

Keywords

JindalStainless INE220G01021 JSL FundRaising NCDs