CCI Clears JSW–JFE Deal Involving Bhushan Power Steel Business

23 Jan 2026 CW Team

The approved transaction involves the transfer of BPSL’s steel business undertaking to JSW Sambalpur Steel through a slump sale. In addition, JFE Steel Corporation will acquire a 50 per cent direct equity stake in JSW Kalinga Steel. This acquisition will result in JFE indirectly holding a 50 per cent shareholding in JSW Sambalpur Steel. Following the completion of the transaction, JSW Kalinga, and indirectly JSW Sambalpur, will be operated as a 50:50 joint venture between JFE and JSW Steel.

JFE Steel Corporation is part of the Japan-based JFE Group, which has three main operating companies: JFE Steel for steel manufacturing, JFE Engineering Corporation for engineering operations, and JFE Shoji Corporation for trading activities. The group has a global presence across steel, infrastructure and related sectors.

JSW Kalinga Steel is a wholly owned subsidiary of Piombino Steel, which in turn is a subsidiary of JSW Steel. JSW Kalinga is yet to commence commercial operations. JSW Sambalpur Steel, currently a wholly owned subsidiary of JSW Kalinga, has also not started commercial operations and will own the transferred steel business undertaking following the transaction.

The steel business being transferred is presently owned by Bhushan Power and Steel, a public limited company engaged in integrated steel manufacturing, including downstream processing of finished steel products. As of now, BPSL is an indirect subsidiary of JSW Steel, held through Piombino Steel.

After reviewing the proposed combination, the CCI concluded that the transaction is not likely to have an appreciable adverse effect on competition in the relevant markets in India and granted its approval. The detailed order of the Commission will be issued separately

The Competition Commission of India (CCI) has approved the proposed combination involving Bhushan Power and Steel (BPSL), JSW Sambalpur Steel, JFE Steel Corporation and JSW Kalinga Steel, clearing a key step in the restructuring and ownership realignment of the steel assets.The approved transaction involves the transfer of BPSL’s steel business undertaking to JSW Sambalpur Steel through a slump sale. In addition, JFE Steel Corporation will acquire a 50 per cent direct equity stake in JSW Kalinga Steel. This acquisition will result in JFE indirectly holding a 50 per cent shareholding in JSW Sambalpur Steel. Following the completion of the transaction, JSW Kalinga, and indirectly JSW Sambalpur, will be operated as a 50:50 joint venture between JFE and JSW Steel.JFE Steel Corporation is part of the Japan-based JFE Group, which has three main operating companies: JFE Steel for steel manufacturing, JFE Engineering Corporation for engineering operations, and JFE Shoji Corporation for trading activities. The group has a global presence across steel, infrastructure and related sectors.JSW Kalinga Steel is a wholly owned subsidiary of Piombino Steel, which in turn is a subsidiary of JSW Steel. JSW Kalinga is yet to commence commercial operations. JSW Sambalpur Steel, currently a wholly owned subsidiary of JSW Kalinga, has also not started commercial operations and will own the transferred steel business undertaking following the transaction.The steel business being transferred is presently owned by Bhushan Power and Steel, a public limited company engaged in integrated steel manufacturing, including downstream processing of finished steel products. As of now, BPSL is an indirect subsidiary of JSW Steel, held through Piombino Steel.After reviewing the proposed combination, the CCI concluded that the transaction is not likely to have an appreciable adverse effect on competition in the relevant markets in India and granted its approval. The detailed order of the Commission will be issued separately

Products

19 Mar 2026

Panasonic Launches SIP Video Intercom System

Panasonic Life Solutions India has launched its VL-VQ Series SIP-based IP Video Intercom System, aimed at enhancing security and access management across modern residential developments. Designed for apartments, gated communities and large housing projects, the system offers a three-layered security framework integrating residences, building entrances and central security operations. It combines door stations, lobby display units, room monitors, guard stations and central management software into a unified platform, enabling real-time monitoring and communication. The system supports multipl..

Real Estate

19 Mar 2026

Mindspace REIT Tops Global Environmental Rankings

Mindspace Business Parks REIT has secured the No. 1 global rank for Environmental Performance in the 2025 S&P Global Corporate Sustainability Assessment (CSA) and has been recognised among the top 10 per cent of global performers in the S&P Global Sustainability Yearbook 2026. The REIT achieved the highest Environmental Dimension score of 84, ranking first among 379 global real estate companies. It has also been elevated from a Sustainability Yearbook Member to Industry Distinction 2026, reflecting its position among the top-performing global peers. Mindspace REIT recorded an overall..

Infrastructure Urban

19 Mar 2026

Maharashtra Eyes $1.5 Trillion GDP Contribution by 2027

Maharashtra is poised to contribute nearly $1.5 trillion to India’s $5 trillion economy ambition by 2027, provided global economic conditions remain stable, Deputy Chief Minister Eknath Shinde said recently at iDAC Expo in Mumbai. Highlighting the state’s economic momentum, Shinde said Maharashtra continues to lead the country through strong investment inflows, industrial expansion and large-scale infrastructure development. He noted that projects such as the Mumbai Coastal Road, Atal Setu, Navi Mumbai International Airport, Samruddhi Mahamarg and the 350-km metro network in the Mumbai Me..