The Competition Commission of India (CCI) has approved the proposed combination related to internal restructuring of the JSW Group, as announced on October 7, 2026. The parties to the combination are JSW Steel Limited, JSW Projects Limited, and BMM Ispat Limited.
The proposed combination represents an internal group restructuring within the JSW Group with the objective of consolidating JSW Group's majority interest in BMM Ispat into full ownership. Currently, JSW Group holds 58.47% equity shareholding in BMM through JSW Projects Limited, and BMM is commercially integrated within JSW Group's supply chain through intra-group sales and procurements. The restructuring aims to enhance operational, financial, and organisational efficiencies through economies of scale, resource pooling, and rationalisation of capital, with JSW Group proposing to fully absorb BMM by way of an amalgamation into JSW Steel.
JSW Steel is listed on the National Stock Exchange of India Limited and BSE Limited and is primarily engaged in the manufacture and sale of iron and steel products in India and abroad. The company has fully integrated operations spanning across mining, raw material processing, steel production and downstream value-added manufacturing. JSW Projects is an unlisted public limited company headquartered in Mumbai that manufactures iron ore pellets, Sponge Iron/DRI, and power generation for captive use, which are ultimately used exclusively for JSW Steel's manufacturing. BMM Ispat is a public limited company and steel manufacturing company engaged in producing semi-finished and long steel products, operating an approximately 1 MTPA (million tonnes per annum) integrated steel manufacturing facility in Karnataka that undertakes the full steelmaking process from ironmaking through to finished long-product rolling.