JSW Steel to consider raising funds through QIP

JSW Steel would be considering raising long term funds by way of a qualified institutional placement (QIP) at its board meeting scheduled to be held on May 24, the company informed the stock exchange on Monday. The company's board is meeting on May 24 to discuss its financial results for the quarter and financial year ending March, 2019. "We now hereby inform you that in the aforesaid meeting, the Board would also be considering raising of long term funds through issuance of Non-convertible Debentures with warrants which are convertible into or exchangeable with equity shares of the Company and/or Equity Shares and/or Convertible Securities (other than warrants), by way of a Qualified Institutional Placement," the company said in a notification on the Bombay Stock Exchange.