JSW Plant RS 7,000 Crore NCDS for AkzoNobel Buy

Mumbai: The JSW group wants to educate £ 7,000 crore in non-convertible bonds (NCDs) to finance the acquisition of AkzoNobel India (Anil), people who are aware of the financing initiative told. The bonds have a scope of four years and seven months and will be issued in a zero coupon structure, giving investors an effective IRR of 8.5%.

The investment arm of the group, JTPM Metal Traders, would be used for the issue, said the people mentioned above.

The basic and total issue of the issue is set at £ 7,000 crore, without a Green-Shoe option. Of the total, £ 2,100 crore is reserved for anchor investors, while the remaining £ 4,900 crore will be open to offer.

The maximum consideration for the purchase of the stake is estimated at £ 9,400 crore, with the total deal, including an open offer for remaining shares, with a value of approximately £ 12,915 crore.

The NCDs will be published on September 29 and are supported by company guarantees of JSW Group entities, according to the aforementioned sources. The bonds are assessed by care assessments.

A JSW spokesperson did not immediately respond to request for comments. Fundraising is part of JSW’s plan to acquire a maximum of 75% in Akzo Nobel India. JTPM signed a stock purchase pact on 27 June 2025.