JSW Steel Limited completed its 50:50 joint venture with JFE Steel Corporation, Japan, for the steel business of Bhushan Power and Steel Limited after JFE acquired an additional 25% stake in JSW JFE Kalinga Steel Limited, formerly known as JSW Kalinga Steel Limited, for Rs 7,875 crore on June 30, 2026.
This acquisition is the second tranche of investment, following JFE's initial Rs 7,875 crore investment on March 30, 2026, which resulted in JFE holding 25% of the shareholding on a fully diluted basis and establishing joint control over JSW JFE Kalinga.
The joint venture agreement dated December 3, 2025, between JSW Steel and JFE Steel, led to changes in the board composition of JSW JFE Kalinga and extended joint control to its wholly owned subsidiary, JSW JFE Steel Limited, formerly known as JSW Sambalpur Steel Limited.
With the June 30, 2026, investment, JFE now holds 50% of the shareholding in JSW JFE Kalinga on a fully diluted basis, and the transaction stands fully completed as per the agreement terms.
This intimation is provided under Regulation 30 of the SEBI Listing Regulations and is available on JSW Steel's website at www.jsw.in, along with the original disclosure filed with the stock exchanges.
The filing references the earlier letter dated March 30, 2026, and confirms the full completion of the joint venture structure for Bhushan Power and Steel Limited's business operations.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.