NCLT Sanctions Merger of Piombino Steel Into JSW Steel
- Mergers & acquisitions
- Steel
JSW Steel Limited has told the exchanges that the Mumbai Bench of the National Company Law Tribunal sanctioned, in an order pronounced on 16 Oct 2026, the scheme of amalgamation of Piombino Steel Limited with JSW Steel Limited and their respective shareholders. The scheme was filed under Sections 230 to 232 of the Companies Act, 2013, and the company's earlier intimation on it was dated 30 Jul 2026.
Piombino Steel is the transferor company. It was incorporated on 21 Sep 2018, its shares are not listed, and it has a paid-up share capital of ₹5,877.36 crore. It deals in steel and allied products, iron ore, coal, coke and metal scrap. JSW Steel is the transferee company, with a paid-up share capital of ₹244.55 crore, and its shares are listed on BSE and NSE. The boards of both companies approved the scheme on 3 Dec 2025, and the appointed date under the scheme is 1 Jan 2026.
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