JSW Steel Limited has initiated a postal ballot process to seek shareholder approval for significant transactions related to a proposed joint venture and the sale of assets. The company is seeking approval for material related party transactions amounting up to ₹8,000 crore for investments in convertible debentures by Piombino Steel Limited (PSL) in JSW Kalinga Steel Limited and by JSW Kalinga in Bhushan Power & Steel Limited (BPSL). Additionally, the transfer of BPSL's steel business undertaking to JSW Sambalpur Steel Limited is proposed for an aggregate cash consideration of ₹24,483 crore. The transactions also include JFE Steel Corporation acquiring a 25% stake in JSW Kalinga for ₹7,875 crore and the issuance of a joint letter of comfort by JSW Steel and JFE for ₹9,500 crore debt to be raised by JSW Kalinga. The e-voting period for shareholders to cast their votes will be from January 6, 2026, to February 4, 2026. The results are expected to be declared by February 6, 2026. Mr. Nilesh Shah has been appointed as the scrutinizer for the postal ballot and e-voting process.
