JSW Steel board will meet next week to consider raising long-term funds through issuance of non convertible debentures (NCDs) and fixed rate bonds.

A meeting of the company’s board of directors is to be held on May 17 and it “would be considering raising of long-term funds”, JSW Steel said in a BSE filing today.

The company said the funds will be raised through issuance of redeemable NCDs by way of placement and issuance of non convertible senior unsecured fixed rate bonds denominated in foreign currency or rupee in the international markets.

The company, however, did not elaborate on the quantum and purpose for raising funds.

Shares of the company were trading 1.25 per cent higher at Rs 193.70 apiece on the BSE.