JSW Steel gives nod to merger of Southern Iron

New Delhi, Oct 25 (UNI) JSW Steel Ltd today said its board has approved the merger of Southern Iron and Steel Company Ltd with the company.

JSW will issue one equity share for every 22 held in Southern Iron and Steel. Besides, it will also issue one redeemable preference share for every preference share held in Southern Iron, a company statement said.

JSW Steel Ltd produces and distributes iron and steel products.

It manufactures hot rolled steel strips, sheets, plates, MS cold rolled coils, sheets, MS galvanised plain, corrugated, colour coated coils and sheets.

UNI