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JSW Steel Ltd said on Friday that its Board has approved the company's participation in the proposed IPO of JSW One Platforms Ltd (JOPL) as a promoter selling shareholder. The company plans to sell equity shares worth up to Rs 811 crore through an offer for sale (OFS).
The company disclosed the development in an exchange filing after the board meeting held on Friday. The company in an exchange filing stated that "the participation of the Company in the proposed initial public offering ("IPO") of JSW One Platforms Limited ("JOPL") as a Promoter Selling Shareholder by offering for sale, such number of equity shares of face value of Rs. 10 each of JOPL aggregating up to Rs. 811 Crores (Rupees Eight Hundred Eleven Crores Only) held by the Company ("Sale Shares") in JOPL" According to the filing, JSW Steel will offer for sale such number of equity shares of face value Rs 10 each held by the company in JOPL, aggregating up to Rs 811 crore, subject to any revisions as may be permissible under applicable law. The company said the price and other details of the proposed IPO will be determined at a later stage by the competent authority in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. The JSW Steel on Friday also reported a consolidated net profit of Rs 4,696 crore for the first quarter ended June 30, 2026, while revenue from operations stood at Rs 47,364 crore. The company reported crude steel production of 6.59 million tonnes during the quarter, while saleable steel sales stood at 6.25 million tonnes. The share price of JSW Steel is currently trading at Rs 1240/share at the time of reporting. (ANI)
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