New Delhi, Mar 23 (PTI) Jindal Steel and Power Ltd (JSPL) plans to raise Rs 1,200 crore through qualified institutional placement (QIP) and has set an issue price of Rs 233 per share.Also Read - With 10 Deaths, COVID 2nd Wave Hits Maoists Hard; Dantewada SP Urges Them to Surrender And Get Treatment

The company proposes to issue and allot up to 51,502,145 equity shares at an issue price of Rs 233 per share aggregating to a total issue size of approximately Rs 1,200 crore, JSPL said in a filing to BSE. Also Read - Chhattisgarh Naxal Encounter: After Massive Search Operation, Bodies of 17 Security Personnel Recovered, Say Police

JSPL has presence in steel, power, mining and infrastructure sectors. The company operates coal-based sponge iron plant and has an installed capacity of 3 MTPA (million tonnes per annum) of steel at Raigarh in Chhattisgarh. Also Read - Chhattisgarh Urban Body Election Results: Congress Wins 3 Municipal Bodies

Shares of JSPL were trading 5.16 per cent lower at Rs 213.15 on BSE.

This is published unedited from the PTI feed.