India’s JSW Steel Limited will raise an estimated $241 million through long-term debt to meet short-term-maturity debt and capital expenditure, a company statement said on Friday, January 26.
The JSW Steel board has also approved a plan to raise funds by way of private placement or public issue of non-convertible debentures to service short-term maturity loans and for other capital expenditure requirements, the company said in the statement.
JSW Steel said its consolidated spending on capital expenditure in India during the third quarter (October-December) of the fiscal year 2023-24 was $633 million and that it expects consolidated capital expenditure for the full fiscal year to be $2.17 billion, lower than the $2.40 billion it had projected earlier.