Business Line reported that JSW Steel has raised INR 2,500 crore through qualified institutional placement. Merchant banking sources said that the instrument will carry an interest of 9% for one year. The fund raise is the last tranche for funding the INR 19,300 crore deals to acquire the stressed Bhushan Power and Steel. Sources had earlier said that the company is expected to deposit the entire fund in an escrow account on March 25.
Business Line reported that JSW Steel has raised INR 2,500 crore through qualified institutional placement. Merchant banking sources said that the instrument will carry an interest of 9% for one year. The fund raise is the last tranche for funding the INR 19,300 crore deals to acquire the stressed Bhushan Power and Steel. Sources had earlier said that the company is expected to deposit the entire fund in an escrow account on March 25.
