JSW Steel board approves up to ₹14,000 crore fundraising via NCDs, equity issue

Sajjan Jindal-led JSW Steel Ltd on Thursday (May 14) said its board has approved raising up to ₹14,000 crore through a combination of non-convertible debentures (NCDs) with warrants and equity-linked instruments via the Qualified Institutions Placement (QIP) route, subject to shareholder and regulatory approvals.

The company said the board approved issuance of NCDs with warrants convertible into or exchangeable with equity shares of face value ₹1 each at a later date for an amount not exceeding ₹7,000 crore, including premium as may be decided by the board.

The board also cleared the issuance of equity shares and/or convertible securities, excluding warrants, for an amount not exceeding ₹7,000 crore, including premium as may be determined by the board.

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Both issuances are proposed to qualified institutional buyers under the Securities and Exchange Board of India’s Issue of Capital and Disclosure Requirements Regulations, 2018.

JSW Steel said shareholders had earlier approved a QIP fundraising plan at the Annual General Meeting held on July 25, 2025. However, the enabling resolution was not acted upon within the stipulated one-year period.

The company said it will seek fresh shareholder approval for the fundraising proposal at the ensuing Annual General Meeting. Shares of JSW Steel Ltd ended at ₹1,297.05, up by ₹22.20, or 1.74%, on the BSE.

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