JSW Steel and JFE Steel Corporation acquire joint control over JSW Kalinga and JSW Sambalpur Steel

In terms of the JV agreement

JSW Steel announced that JFE Steel Corporation (JFE) has invested Rs. 7,875 crore, being the first tranche of JFE's investment in JSW Kalinga Steel (JSW Kalinga) and 2,26,94,524 equity shares of JSW Kalinga have been allotted to JFE today (i.e. 30 March 2026), resulting in JFE holding 25% shareholding on a fully diluted basis in JSW Kalinga.

Consequent to the aforesaid allotment and changes to board composition of JSW Kalinga in terms of the Joint Venture Agreement dated 03 December 2025 (JVA), the Company and JFE have today established joint control over JSW Kalinga and its wholly owned subsidiary - JSW Sambalpur Steel.

The acquisition of further 25% stake (on a fully diluted basis) in JSW Kalinga by JFE for Rs. 7,875 crore, would be completed in accordance with the JVA.

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