The board has approved raising up to ₹7,000 crore via equity shares and/or convertible securities (excluding warrants) and an additional ₹7,000 crore through non-convertible debentures (NCDs) with warrants convertible into equity shares. These issuances, to be offered to Qualified Institutional Buyers, may be exercised individually or together, subject to shareholder and regulatory approvals.
A fresh enabling resolution will be placed before shareholders at the upcoming AGM, replacing the one passed in July 2024 which has since lapsed.
Additional ₹5,000 crore via NCD issue
Separately, the board has approved raising up to ₹5,000 crore through secured or unsecured, redeemable NCDs via private placement or public issuance. The proceeds will be used to refinance short-term borrowings, meet capex and working capital needs, and for general corporate purposes.
Also Read: JSW Steel Q4 Results: Net profit rises 14% but revenue declines from last year
The fundraising announcement came alongside the company’s Q4FY25 earnings. Consolidated net profit rose 14% YoY to ₹1,501 crore, beating CNBC-TV18’s estimate of ₹1,470 crore. Revenue declined 3% to ₹44,819 crore, slightly below estimates. Operating EBITDA stood at ₹6,378 crore, with margins at 14.2%, both below expectations.
The board recommended a final dividend of ₹2.80 per equity share. Shares of JSW Steel ended 0.68% higher on the BSE at ₹1,012.40.
