JSW Group firms plan Rs 2,850 crore debt sales in October-December

Two JSW Group firms plan to raise a total of around Rs 28.5 billion ($298 million) through shorter-tenor bonds in the October-December quarter, two bankers said on Monday.

JSW Energy plans to raise around Rs 15 billion through bonds of up to five years, while JSW Steel could raise around Rs 13.5 billion through three-year or four-year debt, the bankers said.

The bankers requested anonymity as they are not authorised to speak to the media.

The companies could tap the market in October if rates are favourable, according to the bankers.

The firms did not respond to emails seeking comment.

Bonds of JSW Energy are rated “AA” by India Ratings. The company has around Rs 25 billion of outstanding bonds.

JSW Energy has thermal, hydro and renewable power operations. It raised Rs 8 billion through three-year and five-year bonds at 8.75 per cent and 8.80 per cent in March 2025.

AA-rated instruments are considered to be safe in terms of timely servicing their financial obligations.

JSW Steel has a rating of “AA+” from ICRA and India Ratings, with outstanding bonds of over Rs 61 billion.

The firm last tapped the bond market more than two years ago, when it raised Rs 22.5 billion through five-year and seven-year papers at 8.35 per cent and 8.43 per cent, respectively.

(With inputs from agencies)