The Board of Directors at its Meetings held today has recommended Dividend.
Awaiting price reaction for this filing.
JSW Steel's Board has recommended a final dividend of Rs. 2.80 per equity share (280% on Re. 1 face value) for FY25, subject to shareholder approval at the AGM on July 25, 2025. The record date for dividend eligibility is July 8, 2025. Separately, the Board approved raising long-term funds of up to ₹14,000 crores via a Qualified Institutions Placement (QIP), comprising NCDs with warrants convertible into equity (up to ₹7,000 crores) and equity shares/convertible securities (up to ₹7,000 crores). Additionally, the Board approved issuing Non-Convertible Debentures (NCDs) of up to ₹5,000 crores through private placement or public issuance to replace short-term loans and fund capex. The Board also appointed M/s. S. Srinivasan & Co. as the Secretarial Auditor for five years from FY26.
Shareholders get a steady final dividend, but the large equity-linked fund raise (up to ₹14,000 crores via QIP) could lead to equity dilution, which may weigh on the stock in the near term despite the long-term capex and refinancing benefits.