JSW Steel Limited has announced an update regarding its 50:50 joint venture with JFE Steel Corporation, Japan, for the steel business of Bhushan Power and Steel Limited. JFE Steel Corporation has invested ₹7,875 crore as the first tranche of its investment in JSW Kalinga Steel Limited (JSW Kalinga). Consequently, 2,26,94,524 equity shares of JSW Kalinga have been allotted to JFE today, March 30, 2026. This allotment results in JFE holding a 25% shareholding on a fully diluted basis in JSW Kalinga. As a result of this allotment and changes to the board composition of JSW Kalinga, as per the Joint Venture Agreement dated December 3, 2025, both JSW Steel Limited and JFE have established joint control over JSW Kalinga and its wholly owned subsidiary, JSW Sambalpur Steel Limited. The acquisition of a further 25% stake in JSW Kalinga by JFE for ₹7,875 crore will be completed in accordance with the Joint Venture Agreement. This information is also available on the company's website, www.jsw.in.
