JSPL raises Rs 1,200 crore via QIP

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Steel major Jindal Steel and Power (JSPL) today said it has raised Rs 1,200 crore via issue of equity shares through qualified institutional placement (QIP).

The company has issued 51,502,145 equity shares of face value of Rs 1 each at a price of Rs 233 per share, including a premium of Rs 232, JSPL said in a regulatory filing.

“We had thought of an issue of Rs 900 crore only but looking at the positive response of our domestic and international investors, we decided to close the issue at Rs 1,200 crore and not Rs 900 crore,” JSPL Chief Financial Officer (CFO) Deepak Sogani told PTI.

He further said, we launched the issue at a price band of Rs 225-Rs 233, which was the market price at that time. We got 2.2 times demand.

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