JSW Steel Pursues Rs.2,500 Crore Loan from SBI, ICICI

12 Aug 2024 CW Team

JSW Steel is in advanced discussions with the State Bank of India (SBI) and ICICI Bank to secure ?25 billion to fund its capital expenditure plans. The company intends to issue non-convertible debentures at an interest rate of 8.5% to raise these funds, according to sources familiar with the development.

It is reported that SBI may lend a larger share of Rs.15 billion, while ICICI Bank could contribute around ?10 billion.

The company plans to invest Rs.200 billion in FY25 to expand its production capacity, aiming to increase output to 50 million tonnes by FY31. This move is part of JSW's strategy to strengthen its market position and address the growing demand for steel.

In Q4 FY24, JSW Steel's consolidated capital expenditure was ?35 billion, contributing to a total of ?167.52 billion for the entire fiscal year. For FY25, the company expects to spend approximately Rs.200 billion, focusing on new facilities at Vijayanagar and BPSL. This investment will ramp up production volumes, as outlined in its latest investor presentation.

As of March 2024, the company's net debt stood at Rs.739.16 billion, with 57% of this being foreign currency debt. Cash flows from operations and unencumbered cash and cash equivalents amounted to Rs.125.90 billion.

According to ICRA Ratings, JSW Steel's substantial capital expenditure plans, totaling Rs.644.34 billion over FY25-FY27, will keep its free cash flows in check and maintain elevated debt levels in the medium term. A significant portion of this capex will support the completion of brownfield capacity expansions at Vijayanagar and BPSL in FY25, along with a 5.0-MT expansion at Dolvi and enhancements to its downstream capacity and iron ore mining infrastructure in Odisha.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..