Jindal Saw raises Rs 500 crore through NCD portion to LIC

LIC Education Finance Insurance News Uncategorized

NEW DELHI: Jindal Saw on Friday said it raised Rs 500 crore through allotment of non-convertible debentures on a personal placement basis to LIC of India.

The OP Jindal group company manufactures submerged arc welded (SAW) pipes and other pipes for the energy transportation sector.”The board of directors in their meeting held today (Friday) allotted 5,000 secured, redeemable, taxable, non-cumulative, non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each aggregated.

Apart from manufacturing SAW pipes, the corporate build carbon, alloy, and seamless pipes and tubes for industrial applications besides ductile Iron pipes and fittings for water and wastewater transportation.

The company claims its pipes to be energy-efficient that scale back dependence on fossil fuels, and facilitate conserve natural resources.

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