+
JFE Steel Invests Rs 78,750 mn for 25 per cent Stake in Kalinga Steel
Steel

JFE Steel Invests Rs 78,750 mn for 25 per cent Stake in Kalinga Steel

Japan’s JFE Steel Corporation has invested Rs 78,750 mn to acquire a 25 per cent stake in JSW Kalinga Steel as the first tranche under a joint venture agreement, marking the opening phase of the strategic tie-up. JFE is set to invest an additional Rs 78,750 mn to acquire a further 25 per cent stake, which will take its total holding to 50 per cent in line with the joint venture terms. 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.

JSW Steel completed the transfer of the steel business undertaken by Bhushan Power and Steel to its subsidiary JSW Sambalpur Steel via a slump sale on a going concern basis, with the transfer executed on 27 March 2026 and approved earlier in December 2025. The company said that the transfer formed part of the reorganisation envisaged under the joint venture framework and that the allotment triggered the agreed governance changes. The consolidation is expected to streamline operations and integrate assets under the Sambalpur platform.

A board meeting has been convened for 14 May 2026 to consider the audited financial results for the quarter and year ended 31 March, while the Q4FY26 results are scheduled for release on 31 May. In Q3FY26 the company reported a 198 per cent year-on-year jump in net profit and its highest-ever consolidated sales of seven point six four mn t, up 14 per cent year-on-year. Crude steel production rose six per cent and revenue from operations grew around 11 per cent year-on-year to Rs 459,910 mn.

Market reaction was muted as JSW Steel shares remained broadly steady following the allotment, with the stock recording mixed short-term movement. Observers noted that the staggered investment approach and joint control arrangement were aimed at aligning technical collaboration and capacity expansion plans between the two partners. The transaction is likely to influence investment and operational strategy across the Kalinga and Sambalpur facilities.

Japan’s JFE Steel Corporation has invested Rs 78,750 mn to acquire a 25 per cent stake in JSW Kalinga Steel as the first tranche under a joint venture agreement, marking the opening phase of the strategic tie-up. JFE is set to invest an additional Rs 78,750 mn to acquire a further 25 per cent stake, which will take its total holding to 50 per cent in line with the joint venture terms. 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. JSW Steel completed the transfer of the steel business undertaken by Bhushan Power and Steel to its subsidiary JSW Sambalpur Steel via a slump sale on a going concern basis, with the transfer executed on 27 March 2026 and approved earlier in December 2025. The company said that the transfer formed part of the reorganisation envisaged under the joint venture framework and that the allotment triggered the agreed governance changes. The consolidation is expected to streamline operations and integrate assets under the Sambalpur platform. A board meeting has been convened for 14 May 2026 to consider the audited financial results for the quarter and year ended 31 March, while the Q4FY26 results are scheduled for release on 31 May. In Q3FY26 the company reported a 198 per cent year-on-year jump in net profit and its highest-ever consolidated sales of seven point six four mn t, up 14 per cent year-on-year. Crude steel production rose six per cent and revenue from operations grew around 11 per cent year-on-year to Rs 459,910 mn. Market reaction was muted as JSW Steel shares remained broadly steady following the allotment, with the stock recording mixed short-term movement. Observers noted that the staggered investment approach and joint control arrangement were aimed at aligning technical collaboration and capacity expansion plans between the two partners. The transaction is likely to influence investment and operational strategy across the Kalinga and Sambalpur facilities.

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code