JSW Steel has recently completed the merger of JSW Ispat Steel and after the merger JSW Steel has become the second largest steel producer in the country after Steel Authority of India (SAIL) with 14.3 million tons capacity. The Bombay High Court had approved the composite scheme of amalgamation and arrangement amongst the two companies and their shareholders and creditors. Moreover, JSW Ispat is to transfer its Kalmeshwar undertaking and JSW Steel is to transfer its downstream undertaking to JSW Steel Coated Products. Besides, JSW Building Systems is to be merged with JSW Steel. Post-merger, JSW Steel promoters will now hold a little over 35% stake in the unified company.
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