Steel Authority of India plans to raise up to Rs 5,000 crore debt this fiscal by issuing secured non-convertible debentures or bonds in tranches to part-fund its capital expenditure.
"A sum of Rs 9,000 crore is planned to be spent during the current financial year 2014-15. In order to part finance this expenditure, your company plans to borrow about Rs 5,000 crore during the year," SAIL said in a notice to shareholders ahead of the company's annual general meeting .
The state-owned steel maker is in the midst of expanding its crude steel production capacity to 21.40 million tonnes per annum (mtpa) from 12.84 mtpa earlier with Rs 72,000 crore investment.
Published 26 August 2014, 18:22 IST