JSPL board to consider QIP securities issue on Friday

Jindal Steel and Power Ltd (JSPL) on Monday said that its board will meet this week to consider issuance of securities to qualified institutional investors.

"A meeting of the board of directors of the company is scheduled to be held on Friday, the March 16, 2018 to, inter-alia, consider issuance of securities to qualified institutional buyers by way of qualified institutions placement," the company said in a filing to BSE.

JSPL has presence in steel, power, mining and infrastructure sectors. The company operates coal-based sponge iron plant and has an installed capacity of 3 MTPA (million tonnes per annum) of steel at Raigarh in Chhattisgarh.