JSW Steel shareholders give green light to merger with JSW Ispat

Indian steelmaker JSW Steel has announced that it shareholders have approved the merger with India-based JSW Ispat, forming the second largest steelmaker in India after the state-run Steel Authority of India (SAIL).
 
At the meeting held on Wednesday, January 30, 99.9 percent of JSW Steel shareholders voted in favor of the merger. According to the merger plan, one equity share of JSW Steel is equal to 72 equity shares of JSW Ispat.
 
Following the merger, JSW Steel will have an annual installed capacity of 14.3 million mt.