JSW Steel and JFE Steel Complete First Tranche of Joint Venture Investment
JSW Steel Limited announced a significant investment from JFE Steel Corporation on March 30, 2026, furthering the 50:50 joint venture established for the steel business of Bhushan Power and Steel Limited. JFE Steel has invested Rs. 7,875 crores as the initial portion of its investment in JSW Kalinga Steel Limited (JSW Kalinga).As a result of this investment, JFE Steel has been allotted 22,694,524 equity shares in JSW Kalinga, securing a 25% shareholding on a fully diluted basis. This development follows prior communications on December 3, 2025, and March 27, 2026.
The joint venture agreement, dated December 3, 2025, stipulates the acquisition of an additional 25% stake in JSW Kalinga by JFE Steel for Rs. 7,875 crores. The establishment of joint control over JSW Kalinga and its wholly-owned subsidiary, JSW Sambalpur Steel Limited, is effective immediately.
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