Jindal Steel & Power, an Indian steel and energy company announced that the executive sub-committee of directors of Jindal Power, subsidiary of the company has at its meeting allotted 5,000 privately placed rated redeemable unsecured non-convertible debentures for cash at par aggregating to Rs 5 billion in three series to the Kotak Mahindra Bank.

Recently, the company has commissioned the Billet Caster Plant as part of the 6 MTPA Integrated Steel Project at Angul, Odisha.

Shares of the company gained Rs 6.15, or 4.49%, to trade at  Rs 143.15.  The total volume of shares traded  was  382,640 at the BSE (11.55 a.m., Monday).