JSW Steel on Monday said Japan’s JFE Steel Corporation has invested Rs 7,875 crore in its subsidiary JSW Kalinga Steel, acquiring a 25% stake and triggering joint control of the venture.
The investment marks the first tranche of JFE’s planned stake buy in JSW Kalinga, with 2,26,94,524 equity shares allotted to the Japanese steelmaker on March 30, 2026, the company said in a filing.
Following the allotment and board reconstitution under the joint venture agreement signed in December 2025, JSW Steel and JFE now jointly control JSW Kalinga and its wholly owned arm, JSW Sambalpur Steel Limited.
JFE is slated to acquire another 25% stake in JSW Kalinga for Rs 7,875 crore in the next tranche, in line with the agreement.
The transaction is part of a broader partnership between the two companies to expand their footprint in India’s steel sector.
JSW Steel share price was last trading 0.1% higher at Rs 1,131.7, as of 09:43 a.m.
Source: Economic Times