JSW Steel Limited has announced a final dividend of ₹7.10 per share for the financial year ending March 31, 2026. Additionally, the company board has approved a plan to raise up to ₹14,000 crore through a Qualified Institutions Placement (QIP) involving convertible debentures and equity shares. The company also announced the re-appointment of Ms. Fiona Jane Mary Paulus as an Independent Director for a second five-year term.
Dividend Announcement
The Board of Directors has recommended a final dividend of ₹7.10 per fully paid-up equity share, representing a 710% payout for the year ended March 31, 2026. The payout is subject to shareholder approval at the upcoming 32nd Annual General Meeting, which is scheduled for July 24, 2026. Shareholders whose names appear on the company record as of the July 7, 2026, record date will be eligible for the dividend.
Strategic Capital Raising
To bolster long-term resources, the company received approval to raise funds totaling ₹14,000 crore. This will be executed through two primary tranches of up to ₹7,000 crore each:
- Non-convertible debentures with warrants exchangeable for equity shares.
- Direct issuance of equity shares or other convertible securities.
These funds will be raised through a Qualified Institutions Placement (QIP) to eligible investors, contingent upon receiving necessary shareholder mandates at the upcoming annual meeting.
Board Appointments and Governance
The company has confirmed the re-appointment of Ms. Fiona Jane Mary Paulus as an Independent Director. Her second term will span five consecutive years, commencing on May 27, 2027, and concluding on May 26, 2032. Ms. Paulus brings over 45 years of investment banking experience, having served in senior leadership roles at major international financial institutions including the Royal Bank of Scotland, ABN AMRO Bank, and CIBC.
Source: BSE
