JSW Steel has approved its participation in the initial public offering (IPO) of JSW One Platforms Limited as a promoter selling shareholder. The Board of Directors at its meeting held on July 17, 2026, authorized the offer for sale of equity shares aggregating up to ₹811 crores. This stake monetization is subject to market conditions, receipt of necessary approvals, and other considerations.

Key Financial Metrics

JSW One Platforms Limited contributed a profit of ₹90 crores, representing 0.35% of the consolidated net profit after tax of JSW Steel for FY 2025-26. The net worth impact of the investment in JSW One Platforms stood at ₹68 crores, or 0.06% of the consolidated net worth of JSW Steel as at March 31, 2026.

IPO Parameters

The following table outlines the key details of the transaction:

Regulatory and Procedural Details

The price and other details of the proposed IPO will be determined in due course by the competent body, in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company confirmed that the offer for sale will not fall within related party transactions. The disclosure was made under Regulation 30 of the SEBI Listing Regulations.

JSW Steel reported consolidated crude steel production of 6.59 million tonnes for Q1 FY27, representing a 3% increase on a year-over-year basis. The performance was driven by Indian operations, which achieved 94% capacity utilization during the quarter, excluding the shutdown of Blast Furnace 3 (BF3) at Vijayanagar. The company's ability to sustain volume growth highlights its operational efficiency despite the temporary capacity constraints.

Q1 FY27 Operational Performance

The company's Indian operations recorded crude steel output of 6.35 million tonnes in Q1 FY27, a 3% rise compared to the same period in the previous fiscal year. JSW Steel USA - Ohio contributed 0.24 million tonnes to the consolidated total. The capacity utilization for Indian operations stood at approximately 94% for the quarter, calculated on the basis of excluding the BF3 capacity which was under shutdown for upgradation. Excluding the BF3 production impact from the prior year's base, Q1 FY27 volumes grew by approximately 15% year-over-year, supported by the full ramp-up of JVML operations and improved utilization at the Dolvi Unit.

Key Highlights

• Crude steel production reached 6.59 million tonnes in Q1 FY27.
• Indian operations achieved 94% capacity utilization, excluding BF3 shutdown.
• Volumes grew ~15% YoY excluding BF3 impact, driven by JVML and Dolvi Unit.

Blast Furnace 3 (BF3) at Vijayanagar was under shutdown for capacity upgradation and commenced hot-metal production on June 23, 2026. The production figures for the prior year have been adjusted to reflect the slump-sale transfer of the steel business undertaking of Bhushan Power and Steel Limited (BPSL) to JSW-JFE Steel Limited in March 2026. The reported figures demonstrate JSW Steel's ability to maintain growth momentum across its consolidated operations during the quarter.