JSW Steel Limited (JSWSL) has informed the stock exchanges about the outcome of its Board Meeting held on March 25, 2025. During the meeting, the Board of Directors approved the tendering of 22,26,36,000 equity shares held by the company in its subsidiary, Piombino Steel Limited (PSL), under a proposed buy-back offer.

Key Details of the Buy-Back

The Board of Directors of Piombino Steel Limited (PSL), a subsidiary of JSW Steel, has approved the buy-back of 22,26,36,000 fully paid-up equity shares with a face value of ₹10 each at a price of ₹75.30 per share. The total value of the buy-back is ₹1,676.45 crore, subject to shareholder approval.

JSW Steel's Participation in Buy-Back

The Board of JSW Steel has decided to tender 22.26 crore shares held by the company in PSL at a price of ₹75.30 per share as part of this buy-back offer. This move is expected to strengthen JSW Steel’s balance sheet by optimizing the financial structure of its subsidiary.

• Total Shares Held by JSW Steel in PSL: 508 crore shares.

• Percentage of Holding: 83.28% of PSL's total equity shareholding.

• Proposed Tendering in Buy-Back: 22,26,36,000 shares.

Objective of the Buy-Back

The proposed buy-back will provide financial flexibility to Piombino Steel Limited and help improve its capital structure. By participating in the buy-back, JSW Steel aims to strengthen its balance sheet and generate additional liquidity for strategic initiatives.

Impact on JSW Steel’s Balance Sheet

The tendering of shares under the buy-back is expected to have a positive impact on JSW Steel's financials by enhancing liquidity and optimizing capital allocation. This will also ensure that JSW Steel maintains its majority shareholding in PSL, enabling continued control and oversight over the subsidiary’s operations.

Regulatory Compliance

The disclosure has been made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details of the buy-back have also been published on the company’s official website at www.jsw.in.

Timeline of Events

• Board Meeting Date: March 25, 2025.

• Board Meeting Start Time: 01:00 PM.

• Board Meeting End Time: 02:00 PM.

Approval by Shareholders of PSL

The buy-back proposal is subject to approval by the shareholders of Piombino Steel Limited (PSL). Upon approval, the buy-back will be executed as per the terms approved by the Board.

Conclusion

JSW Steel’s decision to tender 22.26 crore shares in the buy-back of Piombino Steel Limited aligns with its strategy to strengthen its balance sheet and maintain a strong financial position. The buy-back, valued at ₹1,676.45 crore, once approved by PSL’s shareholders, will contribute towards the optimization of capital and enhance shareholder value.

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