JSW Steel to acquire entire issued and paid-up share capital of Piombino Steel

• JSW Steel in its filing to the exchanges informed that the company has agreed to acquire entire stake of Piombino Steel Limited from JSW Techno Projects Management Limited.

• "The company has agreed to acquire, by itself and through its nominees, 10,000 shares of INR 10/- each, comprising the entire issued and paid-up share capital, of Piombino Steel Limited from JSW Techno Projects Management Limited," JSW Steel said in a press note after markets hours to the exchanges on Thursday.

• Further, Piombino Steel Limited shall, by itself and/or through nominees, acquire 8,000 shares of INR 10/- each, comprising the entire issued and paid-up share capital of Makler Private Limited from JSW Techno Projects Management Limited, the company added

• Pursuant to the above, Piombino Steel Limited shall become a wholly owned subsidiary of the company and Makler Private Limited shall become a wholly owned subsidiary of Piombino Steel Limited, the company said.

• JSW Steel Ltd's share price ended at Rs267.80, down by Rs6.3 or 2.3%, from its previous close of Rs274.10 on the BSE.

• The scrip opened at Rs274.10 and touched a high and low of Rs274.65 and Rs266.20, respectively. A total of, 53,11,021 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs64,733.16cr.

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