Strategic Transaction with JFE Steel Corporation, Japan - JSW Steel Ltd

Code BSE: 500228 NSE:

SW Steel Ltd. has entered into a strategic joint venture partnership with JFE Steel Corporation, Japan . As part of the transaction, the Steel business undertaking of Bhushan Power and Steel Limited , a subsidiary of JSW, will be transferred to a 50:50 joint venture with JFE, by way of a slump sale for a cash consideration of Rs 24,483 crore. JFE will invest a total amount of Rs 15,750 crore in two tranches, for a 50% stake in the joint venture. JSW is a growth‐oriented company with a target of achieving a steel‐making capacity of 50mtpa in India by FY 2031 and is excited about the opportunities that lie beyond. The Company believes that India presents a multi‐decadal opportunity for growth, and wants to ensure that it is well positioned to capitalise on this opportunity. The present transaction is aimed at securing the Company’s growth in a financially prudent manner to enable it to pursue its aspirations across business cycles.