+
JFE Steel Invests Rs 78,750 Million for 25 Per Cent Stake in Kalinga Steel
Steel

JFE Steel Invests Rs 78,750 Million for 25 Per Cent Stake in Kalinga Steel

Japan's JFE Steel Corporation has acquired a 25 per cent stake in JSW Kalinga Steel through an initial investment of Rs 78,750 million. The investment represents the first tranche under the joint venture agreement and has supported a reconstitution of the joint venture's shareholding. The development has kept JSW Steel's share price largely steady in trade.

JFE Steel is set to make an additional investment of Rs 78,750 million to acquire a further 25 per cent stake, which will increase its holding to 50 per cent in line with the joint venture agreement. Following the allotment and subsequent board changes, JSW Steel and JFE have established joint control over JSW Kalinga Steel and its wholly owned subsidiary JSW Sambalpur Steel. The companies have aligned governance arrangements under the terms agreed on 3 December 2025.

JSW Steel completed the transfer of the steel business undertaken by Bhushan Power and Steel to JSW Sambalpur Steel on 27 March through a slump sale on a going concern basis. The transfer had been approved earlier in December 2025 and forms part of an internal reorganisation of assets. The move is expected to consolidate operations under the Kalinga and Sambalpur structure.

The company has convened a board meeting on 14 May to consider the audited financial results for the quarter and year ended 31 March, with the Q4FY26 results scheduled for release on 31 May. In its Q3FY26 update the company reported a 198 per cent year on year increase in net profit and the highest ever consolidated sales of seven point six four million tonnes, up 14 per cent year on year. Crude steel production rose by six per cent and revenue from operations grew around 11 per cent to Rs 459,910 million. These operational metrics underpin the strategic partnership with JFE and the company's wider capacity and commercial plans.

Japan's JFE Steel Corporation has acquired a 25 per cent stake in JSW Kalinga Steel through an initial investment of Rs 78,750 million. The investment represents the first tranche under the joint venture agreement and has supported a reconstitution of the joint venture's shareholding. The development has kept JSW Steel's share price largely steady in trade. JFE Steel is set to make an additional investment of Rs 78,750 million to acquire a further 25 per cent stake, which will increase its holding to 50 per cent in line with the joint venture agreement. Following the allotment and subsequent board changes, JSW Steel and JFE have established joint control over JSW Kalinga Steel and its wholly owned subsidiary JSW Sambalpur Steel. The companies have aligned governance arrangements under the terms agreed on 3 December 2025. JSW Steel completed the transfer of the steel business undertaken by Bhushan Power and Steel to JSW Sambalpur Steel on 27 March through a slump sale on a going concern basis. The transfer had been approved earlier in December 2025 and forms part of an internal reorganisation of assets. The move is expected to consolidate operations under the Kalinga and Sambalpur structure. The company has convened a board meeting on 14 May to consider the audited financial results for the quarter and year ended 31 March, with the Q4FY26 results scheduled for release on 31 May. In its Q3FY26 update the company reported a 198 per cent year on year increase in net profit and the highest ever consolidated sales of seven point six four million tonnes, up 14 per cent year on year. Crude steel production rose by six per cent and revenue from operations grew around 11 per cent to Rs 459,910 million. These operational metrics underpin the strategic partnership with JFE and the company's wider capacity and commercial plans.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code