JSW Steel to Amalgamate BMM Ispat; Eyes Synergies

JSW Steel Ltd has announced the amalgamation of BMM Ispat Limited with JSW Steel, effective April 1, 2026. The Board of Directors approved the scheme on May 14, 2026, based on the Audit Committee and Independent Directors' recommendations. BMM Ispat operates a 1 MTPA integrated steel facility in Karnataka, near JSW Steel's Vijayanagar plant, promising operational synergies and expansion opportunities. The amalgamation aims to strengthen JSW Steel's long products portfolio and overall market position. JSW Projects Limited, a promoter group entity, holds the majority stake in BMMIL. The scheme is subject to regulatory approvals, including shareholder and NCLT approval.