Promoter of JSPL Naveen Jindal may be in preliminary discussions to raise up to $3 billion

17 Jul 2023 , 10:46 AM

According to multiple news reports, the promoters of Jindal Steel and Power Ltd. (JSPL), which are led by industrialist Naveen Jindal, are in preliminary discussions with major international private credit funds and foreign banks to raise up to $3 billion, which may be used to increase promoter holdings.

The reports claim that the discussions with lenders are in their very early stages and there is no guarantee of a transaction.

One of India’s biggest steel producers is JSPL, which is a part of the OP Jindal group. The promoter Jindal family presently owns 61.2% of the company, according to the most recent data, and their share has grown by 0.8% since the June quarter of last year.

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