JSW Steel Ltd.

JSW Steel has received its shareholder approval to merge JSW Ispat Steel with itself. Post merger, JSW Steel will have an annual production capacity of 14.3 million tonnes and become second largest domestic producer after SAIL.

As per the merger plan, JSW Ispat’s shareholder will get one share of JSW Steel for every 72 shares they hold. While, JSW Ispat will transfer its Kalmeshwar undertaking and JSW Steel will transfer its downstream undertaking to JSW Steel Coated Products.

Besides, JSW Building Systems will also be merged with JSW Steel. Further, it will also reduce the cost of borrowing for JSW Ispat and the merged entity is likely to get Rs 250 crore benefit from it.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.