JSW Steel Limited has informed the Exchange regarding Corrigendum to Notice of Annual General Meeting to be held on July 25, 2025
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JSW Steel has issued a corrigendum to its 31st AGM notice (scheduled for July 25, 2025) specifically for Agenda Item No. 15, which seeks shareholder approval for material related party transactions with Bhushan Power & Steel Limited (BPSL). The corrigendum adds a new line item — 'Purchase of coal and coke products' — and revises the transaction value table for FY26 to FY28. Revised total transaction values with BPSL are Rs. 7,686 crore in FY26, Rs. 8,296 crore in FY27, and Rs. 9,039 crore in FY28, covering sale of iron ore, purchase of billets, coal/coke sales and purchases, job work, rake charges, sale of gases, and common expenses. The explanatory statement was also updated to clarify the coal-to-coke conversion arrangement between JSW's Raigarh unit and BPSL, which reduces logistics costs for both parties.
This is a procedural correction to the AGM notice and does not alter the nature of the related party transactions being approved. Shareholders voting on the resolution should review the updated figures. No material impact on stock price is expected as the underlying transaction scope remains broadly the same.