JSW Steel Limited (NSE: JSWSTEEL, BSE: 500228) has announced that the Board of Directors of its subsidiary, Piombino Steel Limited (PSL), has approved a buyback of 22.26 crore fully paid-up equity shares at ₹75.30 per share. The total consideration for the buyback will not exceed ₹1,676.45 crore, subject to shareholder approval.
In connection with this decision, JSW Steel’s Board has also approved the tendering of its entire holding of 22.26 crore equity shares in PSL under the buyback offer at the specified price of ₹75.30 per share. This move is expected to help JSW Steel further strengthen its balance sheet and optimize its financial structure.
JSW Steel plans to buy back shares of JSW Paints (PSL) at ₹75.30 each, totaling up to ₹1,676.45 crore, to strengthen PSL’s finances. JSW Steel owns 83.28% of PSL. The buyback needs PSL’s and its shareholders’ approval. The Board meeting commenced at 01:00 PM IST and concluded at 02:00 PM IST.
Manoj Prasad Singh, Interim Company Secretary of JSW Steel Limited, confirmed these developments in a regulatory filing with stock exchanges.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Saturn Transit into Pisces
On March 29, 2025, Saturn (Shani) transits into Pisces, an event considered significant in Vedic astrology. Astrologers suggest that this transit may influence various aspects of life and recommend certain remedies to mitigate potential negative effects. These include removing or fixing items such as dirty clothes, broken electronics, unused medicines, dead plants, and outdated documents from homes to promote prosperity, health, and financial stability.
As stated in Bhagavad Gita :
ब्रह्मण्याधाय कर्माणि सङ्गं त्यक्त्वा करोति यः।
One who performs their duty without attachment, surrendering the results unto the Supreme Lord, is unaffected by sinful action.
