* The Board of Directors of JSW Steel approved the Scheme of Amalgamation of Piombino Steel Limited (PSL) with JSW Steel Limited at its meeting on December 3, 2025. * PSL is a subsidiary of JSW Steel and owns Bhushan Power and Steel Limited (BPSL), which operates a 4.5 MTPA integrated steel facility. * JSW Steel holds 82.65% of PSL, with the remaining 17.35% held by JSW Shipping & Logistics Private Limited. * The merger will allow JSW Steel to directly hold the investment in BPSL, reduce regulatory compliances, and consolidate administrative functions. * Upon the Scheme becoming effective, JSW Steel will issue 10 fully paid-up equity shares of ₹1 each for every 156 fully paid-up equity shares of ₹10 each held by the equity shareholders of PSL (other than JSW Steel). * The appointed date for the scheme is January 01, 2026. * As of November 28, 2025, JSW Steel's shareholding will change from 45.32% to 46.74% post scheme. * The scheme is subject to approvals from shareholders, creditors, BSE, NSE, SEBI and other regulatory bodies.
