JSW Group to Acquire 35% Stake in MG Motor India

10 Oct 2023 CW Team

The goal of JSW Group's pursuit of a share acquisition in MG Motor India is to provide an electric vehicle that is especially suited for the Indian market. A fully owned subsidiary of Shanghai-based SAIC Motor is MG Motor India. This agreement will probably be officially announced by Diwali.

More crucially, the action emphasizes the transition toward sustainable and environmentally friendly transportation options by highlighting the growing interest in and investments in the Indian electric vehicle market.

Electric vehicle (EV) localization in India is a top priority for the $23 billion industrial powerhouse headed by Sajjan Jindal. By January 2024, the new corporate partnership hopes to introduce EVs. This is in line with the general movement to encourage domestic manufacturing and the use of EVs, contributing to sustainability and reducing carbon emissions.

A Memorandum of Understanding (MoU) between JSW Group and MG Motor India to purchase about 35 percent of the company is most likely in place. This acquisition is a key component of JSW's plan to dominate the Indian EV market, emphasizing aggressive localization efforts.

The planned contract specifies that in the preliminary stage, a private corporation connected to Sajjan Jindal will own 32–35 percent of

Losses incurred by MG Motor India will be mitigated by equity capital held by SAIC. MG Motor India wants to begin its initial public offering (IPO) via an offer for sale (OFS) after these losses have been made up, at which point SAIC will sell its stake.

Notably, JSW Steel and JSW Energy would not be involved in the business.

In the past, there have been rumors that SAIC sought to reduce its investment in MG Motor India so that local businesses might acquire the majority of the company. It has accrued losses of roughly Rs 1,720 crore since its 2019 India launch.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..