JSW Steel has accomplished the merger of JSW Ispat Steel with itself and the amalgamation came into effect from June 1. After this merger, JSW Steel has become the second largest steel producer in the country. Shareholders of JSW Ispat will obtain one JSW Steel share for every 72 shares, as per the merger scheme.
The entity’s promoters will now hold a little over 35% stake in the company, post-merger. JSW’s second largest shareholder JFE Steel holdings will now come down to 14.92%. JFE had about 15% stake in JSW Steel till the time of merger announcement in September last year.
