JSW STEEL : NCLT SANCTIONS PIOMBINO STEEL AMALGAMATION

• NCLT Mumbai Bench pronounced the order sanctioning the scheme of amalgamation of Piombino Steel Limited into JSW Steel on October 16, 2026 • Scheme effective once the certified NCLT order is filed with the Registrar of Companies by all companies • Appointed date fixed at January 1, 2026; Piombino Steel to be dissolved without winding up • Share exchange ratio: 10 fully paid equity shares of Re 1 each of JSW Steel for every 156 equity shares of Rs 10 each of Piombino Steel • Scheme approved by 94.86% of valid votes cast by JSW Steel equity shareholders and 97.20% of valid votes by public shareholders • Stated rationale: direct holding of investment in Bhushan Power and Steel, additional cash for growth, lower compliance and overhead costs

JSW Steel Ltd

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