JSW Steel Limited has informed the Exchange regarding Notice of Postal Ballot
JSWSTEEL · price
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JSW Steel has issued a Postal Ballot Notice seeking shareholder approval for three resolutions tied to a strategic joint venture with Japan's JFE Steel Corporation for the steel business of Bhushan Power & Steel Limited (BPSL). Under the plan, BPSL's steel undertaking will be transferred to JSW Sambalpur Steel via slump sale for ₹24,483 crore, and JFE will invest ₹15,750 crore to acquire a 50% stake in JSW Kalinga Steel. JSW Steel will receive ~₹32,350 crore in total cash consideration and reduce consolidated debt by ~₹37,250 crore while retaining 50% economic interest. The resolutions also cover related-party transactions, a ₹9,500 crore Letter of Comfort for JSW Kalinga's borrowings, and the cessation of JSW Kalinga/Sambalpur as subsidiaries. E-voting runs from January 6, 2026 to February 4, 2026, with results expected by February 6, 2026.
Major deleveraging and restructuring — JSW Steel monetizes part of its BPSL stake, brings in JFE as a 50:50 partner for technology and capital, and slashes consolidated debt by ~₹37,250 crore. JSW Kalinga and JSW Sambalpur will de-consolidate, which may reduce reported revenue and assets but significantly improves the leverage profile and unlocks value for shareholders.