Jindal Steel & Power Ltd has clarified that the company wish to submit that it is merely an intent of the company in accordance with the ongoing commitment of its bankers.The company has not initiated the process and is aware of the regulations.
Earlier there were about “Jindal Steel & Power surges 13% as Co will raise Rs 1,000 crore via QIP.”
The stock ended 7% higher at Rs. 256. The stock has hit a high of Rs. 270 and a low of Rs. 240.
JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors. Part of the US $ 18 billion OP Jindal Group this young, agile and responsive company is constantly expanding its capabilities to fuel its fairy tale journey that has seen it grow to a US $ 3.3 billion business conglomerate.
JSPL operates the largest coal-based sponge iron plant in the world and has an installed capacity of 3 MTPA (million tonnes per annum) of steel at Raigarh in Chhattisgarh. Also, it has set up a 0.6 MTPA wire rod mill and a 1 MTPA capacity bar mill at Patratu, Jharkhand, a medium and light structural mill at Raigarh, Chhattisgarh and a 2.5 MTPA steel melting shop and a plate mill to produce up to 5.00-meter-wide plates at Angul, Odisha.