JSW Steel Limited — Others, 03-07-2025: Shareholders meeting

JSW Steel has announced a board meeting to consider the financial results for the quarter and half-year. The company has convened its 31st Annual General Meeting (AGM) via video conference to seek shareholders’ approval on key items including adoption of financial statements, dividend declaration of ₹12.80 per equity share, re-appointment of a director, appointment of secretarial and cost auditors, and approval for issuance of securities worth up to ₹7,000 Crores via Qualified Institutions Placement. Several material related party transactions (RPTs) involving subsidiaries and joint ventures, aggregating to significant multi-year amounts (ranging from ₹3,328 Cr to ₹38,191 Cr depending on the counterparty), covering services, sales/purchases of raw materials, power, steel products, financing, and logistics, will also be put forth for shareholder approval. The company continues to consolidate Bhushan Power & Steel Limited (BPSL) despite a Supreme Court order rejecting its resolution plan and is pursuing legal remedies, maintaining BPSL’s control and recoverable value in financials. New independent director Mr. Shyamal Mukherjee has been appointed for five years. Key RPTs include power sourcing and coal transactions with JSW Energy, port and logistics services with JSW Jaigarh Port Limited, and various product and service transactions with group companies such as BMM Ispat, Jindal Saw, JSW One Distribution, JSW MI Steel Service Centre, Piombino Steel, Neotrex Steel, and overseas entities. These transactions are structured to optimize supply chain, raw material procurement, market reach, and operational efficiencies, preserving synergies within the JSW ecosystem while complying with applicable laws and arm’s length principles.