The Board of the Company has fixed 08.07.2025 as the record date for the purpose of Dividend and AGM.
Awaiting price reaction for this filing.
JSW Steel's board has recommended a final dividend of Rs. 2.80 (280%) per equity share of Re. 1 face value for FY25, subject to shareholder approval at the AGM on July 25, 2025. The record date for the dividend is fixed as July 8, 2025, with book closure from July 9–11, 2025. Separately, the board approved raising up to Rs. 14,000 crores through a Qualified Institutions Placement (QIP) — Rs. 7,000 crores via NCDs with warrants convertible into equity, and Rs. 7,000 crores via equity shares or convertible securities. Additionally, the board cleared issuing secured/unsecured NCDs up to Rs. 5,000 crores via private placement or public issue to refinance short-tenure debt and fund capex. M/s. S. Srinivasan & Co. has been appointed as the new Secretarial Auditor for five years starting FY26.
The dividend is modest in absolute terms given the low face value. The proposed QIP of up to Rs. 14,000 crores carries meaningful equity dilution risk, which may pressure the stock in the near term. The NCD issuance of Rs. 5,000 crores is aimed at replacing short-term debt, which is a credit-positive move for the company's debt profile.