JSW Steel says Piombino Steel merger became effective on 31 October 2026
JSW Steel told the National Stock Exchange that its merger with Piombino Steel took effect on 31 October 2026, after the NCLT Mumbai Bench sanctioned the scheme on 16 October 2026.
Key points
- JSW Steel said in a filing that the Scheme of Amalgamation of Piombino Steel Limited with the company became effective on 31 October 2026.
- The company said the scheme applies from the appointed date of 1 January 2026, and its authorised share capital is now Rs 27,980 crore.
- Piombino Steel stands amalgamated into JSW Steel; the company said its Memorandum of Association has been amended to reflect the new capital.
Photo: Wikimedia Commons, CC0 1.0 (cropped). Representational image.
JSW Steel Limited said in a filing with the National Stock Exchange on 1 November 2026 that its Scheme of Amalgamation with Piombino Steel Limited became effective on 31 October 2026. The company said Piombino Steel, the transferor company, now stands amalgamated with and into JSW Steel.
What Happened
According to the company's filing with the National Stock Exchange, the National Company Law Tribunal (NCLT), Mumbai Bench, passed a final order on 16 October 2026 sanctioning the scheme. The scheme covers the amalgamation of Piombino Steel Limited with JSW Steel Limited and their respective shareholders, under Sections 230 to 232 of the Companies Act, 2013. JSW Steel had informed the exchanges of that order on 17 October 2026.
The company said the scheme became effective on 31 October 2026, after it and Piombino Steel filed a certified copy of the tribunal's order with the Registrar of Companies, Mumbai, through e-form INC-28. The scheme applies from its appointed date, the opening of business hours on 1 January 2026.
The filing also sets out a change to JSW Steel's share capital. Under Clause 9 of the scheme, the authorised share capital of Piombino Steel was combined with that of JSW Steel. Piombino Steel's authorised capital was Rs 12,000 crore of equity share capital, divided into 1,200 crore equity shares of Rs 10 each, and Rs 5,000 crore of preference share capital, divided into 500 crore preference shares of Rs 10 each.
As a result, the company said Clause V of its Memorandum of Association now reads that its authorised share capital is Rs 27,980 crore. This consists of 19,030 crore equity shares of Re 1 each and 895 crore preference shares of Rs 10 each. The company enclosed a certified copy of the tribunal's order with the filing.
What It Means
For shareholders and others who deal with JSW Steel, the filing records that the merger has legally taken effect and that Piombino Steel no longer exists as a separate company. Authorised share capital is the maximum amount of shares a company is permitted to issue; it is not the same as shares already issued and held by investors.
The filing is a regulatory intimation under Regulation 30 of the SEBI listing rules, which require listed companies to inform the exchanges of material events. It does not state any exchange ratio, any new share issue or any financial effect of the merger, so this report does not address them. Readers can read the company's original disclosures on the National Stock Exchange's website.
Oquilia Data: JSW Steel Ltd. (NSE: JSWSTEEL)
| Close, 30 Oct 2026 | Rs 1,246.00 (−0.75% on the day) |
|---|---|
| Return 1M / 3M / 6M / YTD / 1Y | −0.59% / −1.95% / −1.46% / +6.97% / +2.98% |
| Against Nifty 50, 1M / 3M / YTD | −2.50 / +3.25 / +18.75 points |
| 52-week closing high / low | Rs 1,341.00 (26 Aug 2026) / Rs 1,079.30 (17 Dec 2025) |
| Turnover, 20-session average | Rs 246.26 cr; 54.2% delivered; latest volume 0.6x |
| Insider trades, 90 days | none by promoters, directors or KMP |
Closes adjusted for splits and bonuses; returns exclude dividends; insider figures from BSE filings. Facts from NSE's files, not investment advice.
Full record: JSW Steel share price on Oquilia
Source: Company filing on NSE
Sources & Citations
- Company filing on NSE — National Stock Exchange of India