India's JSW Group firms plan $300 million debt sales, bankers say

JSW Steel

21/09/2026 07:44

By Dharamraj Dhutia and Khushi Malhotra
MUMBAI, Sept 21 (Reuters) - Two JSW Group firms will raise a total of around 28.5 billion rupees ($298 million) through shorter-tenor bonds in the October-December quarter, a couple of bankers said on Monday. 
JSW Energy JSWE.NS plans to raise around 15 billion rupees through up to five-year bonds, while JSW Steel JSTL.NS could raise around 13.5 billion rupees via three-year or four-year debt, the bankers said, requesting 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 firm has around 25 billion rupees of outstanding bonds.  
The company, which has thermal, hydro and renewable power operations, had raised 8 billion rupees through three-year and five-year bonds at 8.75% and 8.80% in March 2025.
AA-rated instruments are considered to be safe in terms of timely servicing their financial obligations.
JSW Steel JSTL.NS has a rating of "AA+" by ICRA and India Ratings with outstanding bonds at over 61 billion rupees. 
The firm had last tapped the bond market over two years ago, when it raised 22.5 billion rupees through five-year and seven-year papers at 8.35% and 8.43%, respectively. 

($1 = 95.7700 Indian rupees)

 (Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
 ((Dharamraj.Dhutia@thomsonreuters.com;))