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

Two JSW Group companies are reportedly lining up about 28.5 billion rupees ($298 million) in short-dated bonds during the October to December period, according to two bankers. Business Recorder said the bankers spoke on Monday on condition of anonymity, since they are not permitted to comment publicly. JSW Energy is said to target roughly 15 billion rupees via bonds maturing within five years, while JSW Steel could seek about 13.5 billion rupees through three- or four-year paper.

The issuers could enter the market as early as October provided borrowing costs are attractive, the sources added. Neither company answered emails requesting a response. JSW Energy carries an AA rating from India Ratings and has about 25 billion rupees of bonds outstanding; it previously raised 8 billion rupees in March 2025 through three- and five-year notes priced at 8.75% and 8.80%.

JSW Steel holds AA+ ratings from ICRA and India Ratings, with more than 61 billion rupees of bonds outstanding. Its last issuance came over two years earlier, when it borrowed 22.5 billion rupees via five- and seven-year papers at 8.35% and 8.43%.