The Competition Commission of India (CCI) has approved the proposed merger of JSW Ispat Steel with JSW Steel.
The merger, once complete, will make the steel production capacity of 14.3 million tpa. The CCI observed that the control over activities carried out by JSW Ispat before and after the proposed amalgamation will remain with JSW Steel. The merger will be based on 1:72 share swap ratio (shareholders of JSW Ispat will get one JSW Steel share for every 72 shares they hold).