JSW Steel Limited has submitted a regulatory disclosure under SEBI Listing Regulations Regulation 30 regarding the completion of its joint venture transaction with JFE Steel Corporation, Japan.
The disclosure provides an update on the 50:50 joint venture established for the steel business of Bhushan Power and Steel Limited. The company references its previous communication dated March 30, 2026, where it had intimated that JFE Steel Corporation invested ₹7,875 crores as the first tranche of its investment in JSW JFE Kalinga Steel Limited (formerly JSW Kalinga Steel Limited). This initial investment resulted in JFE holding 25% of the shareholding on a fully diluted basis in JSW JFE Kalinga.
The current update confirms that on June 30, 2026, JFE Steel Corporation acquired an additional 25% stake (on a fully diluted basis) in JSW JFE Kalinga Steel Limited for a consideration of ₹7,875 crores. With this second tranche investment, JFE now holds 50% of the total shareholding in JSW JFE Kalinga Steel Limited, completing the transaction as originally contemplated.
The total investment by JFE Steel Corporation in the joint venture amounts to ₹15,750 crores (₹7,875 crores × 2 tranches) for acquiring 50% ownership. The transaction is now fully completed following this final investment.
The disclosure also notes that consequent to the initial investment and changes in board composition made in accordance with the Joint Venture Agreement dated December 3, 2025, JSW Steel Limited and JFE Steel Corporation had established joint control over JSW JFE Kalinga Steel Limited and its wholly owned subsidiary, JSW JFE Steel Limited (formerly known as JSW Sambalpur Steel Limited).
This intimation will be made available on the company's website at www.jsw.in pursuant to Regulation 30(8) of the SEBI Listing Regulations.
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