Link: https://links.sgx.com/1.0.0/corporate-announcements/SK6KMOO8T85B0QGZ/09cf45e144f595a817d8067594aa160c7f1b2f782f6fc814b1ce3d802295b51e

Summary:

• JSW Steel Limited's Board approved the amalgamation of Amba River Coke Limited, Monnet Cement Limited, and JSW Retail Distribution Limited into JSW Steel.

• The three subsidiaries are 100% owned by JSW Steel; no new shares of JSW Steel will be issued as a result.

• The transaction is subject to approvals from the National Company Law Tribunal and other regulatory bodies.

• The merger aims to improve operational efficiency, reduce administrative and compliance costs, optimize use of resources, and achieve a streamlined group structure.

• The business activities: ARCL (coke/pellet manufacturing), MCL (cement), JRDL (steel distribution/marketing/consultancy), and JSW Steel (iron and steel products).

• There will be no change to JSW Steel’s shareholding pattern post-merger, and no cash consideration or share swap is involved.

• The effective date of appointment for the merger is April 1, 2026.