India-based steelmaker JSW Steel has announced that its merger with India's JSW Ispat has become effective as of June 1, with the approval of the Supreme Court of India. Accordingly, JSW Ispat shareholders will get one JSW Steel share for every 72 shares they hold.
As SteelOrbis previously reported, JSW Steel will become the second largest steelmaker in India after the state-run Steel Authority of India (SAIL), with an annual installed capacity of 14.3 million mt.