The much awaited merger between JSW Steel and JSW Ispat is expected tomorrow. The boards of both the companies will be meeting to finalize the merger proposals and draft the restructuring and reorganization plan for JSW Steel.
Sources say a swap ratio of 1:65 or 1:75 is likely. Sources also say that the merger may entail issuing new shares diluting the equity of existing shareholders and this may help JFE steel, the second largest shareholder in the company, increase its stake.
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