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Informist, Thursday, May 14, 2026

--JSW Steel to merge BMM Ispat with co 

--JSW Steel to give 1 share in co for 18 shares held in BMM Ispat 

MUMBAI – JSW Steel Ltd.'s board Thursday approved the merger of BMM Ispat Ltd. with the company. The merger will strengthen JSW's long-steel product portfolio and provide an opportunity to nearly double JSW Steel's capacity at a low cost and faster, the company said in an exchange filing. JSW Steel will issue 1 equity share of the company for every 18 shares held in BMM Ispat.

BMM Ispat operates a 1 million-tonne-per-annum steel facility in Karnataka, near JSW Steel's Vijayanagar plant. BMM Ispat has environmental clearances to increase capacity to 2 million tonnes per annum and has surplus, expansion-ready land, creating an opportunity for JSW Steel to almost double its capacity.

JSW Projects Ltd., a promoter group of JSW Steel, holds the majority stake in BMM Ispat. The remaining stake in the company is with Dinesh Kumar Singhi and Snehalatha Singhi, according to the filing.

For the March quarter, JSW Steel reported a consolidated net profit of INR 163.70 billion on revenues of INR 511.80 billion. The company's net profit includes a one-time income of INR 178.88 billion. Thursday, shares of JSW Steel closed 1.7% higher at INR 1,296.90 on the National Stock Exchange.  End

Reported by Ashutosh Pati

Edited by Saji George Titus

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