JSW Steel Extends Long Stop Date for the Acquisition of a 92.19% Stake in Minas De Revuboe

JSW Steel’s share price surged over 2% on Wednesday, January 29, 2025, following the company’s announcement of an extension in the long stop date for its acquisition of a 92.19% stake in Minas De Revuboe. The extension was revealed in an exchange filing on Tuesday after market hours.

Acquisition Timeline Extended

According to the company’s regulatory filing, “The Company has extended the long stop date for the Transaction from January 31, 2025, to June 30, 2025, as per rights of the Company under the Transaction Agreements. This is for your information and in compliance with Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.”

Stock Performance & Key Metrics

On January 29, JSW Steel share price traded 2.49% higher at ₹939 at 12:12 PM (IST). The stock has seen a 52-week high of ₹1,063.35 on October 4, 2024, and a 52-week low of ₹762 on March 14, 2024. As per BSE data, the total traded volume for the stock stood at 0.22 lakh shares, with a turnover of ₹2.05 crore.

At its current valuation, JSW Steel shares are trading at a price-to-earnings (P/E) ratio of 47.86x, based on its trailing 12-month earnings per share (EPS) of ₹19.62. The stock’s price-to-book (P/B) ratio stands at 2.93, according to exchange data.

Shareholding Pattern

As of December 31, 2024, the shareholding structure of JSW Steel was as follows:

• Promoters: 44.85%
• Foreign Institutional Investors (FIIs): 25.59%
• Domestic Institutional Investors (DIIs): 10.59%

JSW Steel Q3 FY25 Results

JSW Steel reported strong Q3 FY25 financial results, reflecting significant growth. The company’s net profit jumped year-over-year (YoY) to ₹386.92 crore. Its earnings before interest, tax, depreciation, and amortisation (EBITDA) surged to ₹500 crore. The company’s revenue for the quarter stood at ₹2,968.81 crore.

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