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JSW Energy on Monday announced the sale of 2.5 crore equity shares in JSW Steel for Rs 3,150 crore through a bulk deal on the National Stock Exchange of India Ltd on May 18. Post-transaction, the company's balance holding is 4,50,38,350 equity shares of JSW Steel Ltd, a regulatory filing said. According to the filing, the company has divested 2,50,00,000 equity shares (face value Re 1 each) of JSW Steel Ltd through a bulk deal on the National Stock Exchange of India Ltd on May 18, as part of a strategic liquidity release, realising gross proceeds of Rs 3,150 crore. The monetisation of a part of the shareholding in JSW Steel Ltd not only releases capital for pursuing the company's growth strategy but also improves return on capital employed, reinforcing the company's commitment to disciplined capital allocation and long-term value creation for shareholders, it added.
JSW Steel on Thursday said its board has approved raising up to Rs 14,000 crore through the issuance of non-convertible debentures and equity shares. The board has also approved the scheme of amalgamation of BMM Ispat with JSW Steel at an enterprise value of Rs 6,400 crore, the company said in a regulatory filing. It said funds will be raised through the issuance of non-convertible debentures with warrants, which are convertible into or exchangeable with equity shares of the company of face value of Re 1 each (the equity shares) at a later date, for an amount not exceeding Rs 7,000 crore, inclusive of such premium as may be decided by the board. Also, the company plans to issue equity shares and/or convertible securities (other than warrants) for an amount not exceeding Rs 7,000 crore, inclusive of such premium as may be decided by the board. In a separate statement, JSW Steel said the board has considered and approved the "Scheme of Amalgamation pursuant to section 230-232 and oth