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Tuesday, Nov 22, 2005


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Corporate - Mergers & Acquisitions

JSW Steel declares merger ratio for 3 companies

Our Bureau

Mumbai , Nov. 21

JSW Steel Ltd has informed the BSE that the effective date of the scheme of amalgamation of Euro Ikon Iron Steel Pvt Ltd, Euro Coke Energy Pvt Ltd and JSW Power Ltd with the company is November 16.

The equity shareholders of the merged companies would be issued shares of JSW in these ratios: one shares of JSW for 16 shares of Euro Ikon; one share of JSW for 19 shares of Euro Coke and one share of JSW for 25 shares of JPL.

Following the implementation of the scheme and the issue of shares, the equity capital of the JSW will increase by Rs 17.99 crore consisting of 1.8 crore shares of Rs 10 each.

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