JSW Steel looks to raise funds via rights issue

Mumbai: Sajjan Jindal-led JSW Steel has said it will consider raising additional long-term resources, including issuance of equity shares or other securities, through a rights issue at its board meet next week. The promoter and promoter group hold 42.32 per cent stake in the company, while 57.12 per cent is held by the public.

Employee trust and non-promoter-non-public hold 0.56 per cent each.”At its meeting on October 25, the board would be considering raising of additional long-term resources, including but not limited to, issuance of equity shares or other securities by way of a rights issue subject to regulatory approvals,” JSW Steel said in a regulatory filing on Saturday.

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Free Press Journal