IMAP India advises Jai Balaji Industries on structured debt raise

On 12th December, Jai Balaji Industries Limited, a public listed company announced on the exchanges, about the signing of Facility Agreement with Tata Capital Financial Services Limited. IMAP India served as exclusive financial advisor to the company on this debt raise.

Incorporated in 1999, Jai Balaji Industries Limited is engaged in the manufacturing of Iron and Steel products. The company has a diverse portfolio of value-added products including DRI (Sponge iron), Pig iron, Ferro Alloys, Alloy and Mild Steel Billets, TMT Bars, Wire Rods, Ductile Iron Pipes, and Alloy and Mild Steel Heavy Rounds. The company is an integrated steel manufacturer with 4 units spread across eastern India.

In between 2014 to 2016, Jai Balaji Industries entire debt of over Rs. 3600 crs consisting of term debt and working capital from consortium of banks, turned NPA. Edelweiss and Omkara ARC took assignment of the debt and as part of debt restructuring with the ARCs, the company had agreed to repay the restructured debt by September 2025. This new facility will refinancing all existing debt from Edelweiss ARC and Omkara ARC.

IMAP India team were exclusive financial advisors to the company for this debt raise of ~Rs. 560 crores.