JSW Steel Announces Final Dividend and Plans Major Capital Raise via QIP
JSW Steel Limited announced key decisions following its Board of Directors meeting held on May 14, 2026. The outcomes cover the recommendation of a final dividend for the financial year ended March 31, 2026, the re-appointment of a director, and the plans for raising long-term resources through a Qualified Institutional Placement (QIP).Dividend Recommendation
The Board of Directors recommended a Final Dividend of Rs. 7.10 (Seven rupees and one paise only) per fully paid-up Equity Share of Re.1 each for the year ended March 31, 2026. If this dividend is declared by the members at the 32nd Annual General Meeting (AGM), it will be dispatched to members on or before 30 days from the date of the AGM, subject to tax at source deduction.Director Re-appointment
The Board also recommended the re-appointment of Mrs. Fiona Jane Mary Paulus (DIN 09618098) as an Independent Director for a second term. Mrs. Paulus, aged 66 years, holds office up to May 26, 2027, following her first term. The recommendation extends her role as an Independent Director for a second term of up to May 26, 2032, pending approval from the members at the forthcoming AGM.Plans for Capital Raising
The Board of Directors approved raising long-term resources through the issuance of specified securities to Qualified Institutional Buyers (QIBs) via a Qualified Institutional Placement. This planned issuance, subject to shareholder and other applicable approvals, includes two instruments:| Instrument Type | Details | Maximum Amount |
|---|---|---|
| Non-Convertible Debentures (NCDs) | With warrants convertible or exchangeable with Equity Shares (face value ₹ 1 each). | Not exceeding ₹ 7,000 crores |
| Equity Shares and/or Convertible Securities | (other than warrants). | Not exceeding ₹ 7,000 crores |
The Company noted that the Board sought fresh shareholder approval for this QIP, as the enabling resolution passed at the Annual General Meeting on July 25, 2025, was not acted upon within the stipulated period of one year.
Key Dates and Meetings
The 32nd Annual General Meeting (AGM) of the Company is scheduled for Friday, July 24, 2026, and will be conducted via Video Conferencing/Other Audio Visual Means.The period for the payment of Dividend and AGM requires the Register of Members and Share Transfer Books to remain closed from July 8, 2026, to July 10, 2026 (both days inclusive).
The Record Date for the dividend payment for the year ended March 31, 2026, is set at July 7, 2026.
JSWSTEEL Stock Price Movement
Today, JSW Steel Limited shares edged higher to close at ₹1296.9, marking an 1.85% gain in post-market trading. The stock achieved strong momentum, posting high volume of 3.29 million shares and nearing its 52-week high of ₹1306.8.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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