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JSW Steel Promoters Repay Debt

Steel News - Published on Fri, 20 Sep 2019

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JSW Steel Ltd informed BSE that it has repaid debt of INR 1,148.59 crore to take a release of 5.07 crore of its pledged shares, representing about 2.09% of its share capital. The debt was repaid by three promoter entities that got their pledged shares released. These were, JSW Techno Projects Ltd. that repaid about INR 500 crore to release 2.2 crore encumbered shares, Sahyog Holdings Pvt Ltd repaid INR 391 crore and released 1.73 crore pledged shares and Vividh Finvest Pvt Ltd release of 1.14 crore shares for INR 258 crore.

As of quarter ended 30 June, JSW Steel had pledged about half of its 42.27% holding in the company by pledging about 50 crore shares. Of this, JSW Techno Projects had pledged 77.7% of its 10.23% stake in the firm, Sahyog Holdings had also created lien on 77.5% of its 4.6% holding and Vividh Fivest had encumbered 48% of its 5.9% stake in JSW Steel.

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Posted By : Ratan Singh on Fri, 20 Sep 2019
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