Piombino Steel merger with JSW Steel becomes effective

Acquisition announcedScheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

JSWSTEEL · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+4.7%Reaction day

₹1246.00

prior close

₹1246.00

announcement price

After-mkt

timing

Nifty 100market+1.7%+3.0% vs market

Iron & Steel peers, median of 10sector+1.9%+2.9% vs sector

On the reaction day the stock moved 3.0 pts more than Nifty 100 and 2.9 pts more than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.0

10m

+0.8

15m

+0.7

30m

+0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+4.7+1.7+3.0+1.9+2.9

Next day

+5.7+3.2+2.5+1.7+4.0

+7.1+4.0+3.1+5.4+1.7

+8.8+6.4+2.5+6.5+2.3

+8.9pendingpending+6.1+2.8

—————

15d

—————

UpDownMarket · Nifty 100Sector · Iron & Steel peers, median of 10Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The merger became effective on October 31, 2026, with effect from January 1, 2026, after National Company Law Tribunal approval on October 16. Piombino Steel is merged into JSW Steel and will be dissolved without winding up. The exchange ratio is 10 new JSW shares of Rs 1 each for every 156 Piombino shares of Rs 10 each. JSW's authorised capital becomes Rs 27,980 crore.

Likely market impact

JSW gains direct ownership of Piombino and its Bhushan Power and Steel stake, plus cost savings. Share issuance may dilute existing holders.