JSW Steel Arm To Raise Rs 26 Bn For Thyssenkrupp Buyout

20 Jan 2025 CW Team

A JSW Steel group entity aims to raise Rs 26 billion through a three-year zero-coupon bond to fund its Rs 39 billion acquisition of Thyssenkrupp Electrical Steel India from Germany's Thyssenkrupp Group. The deal will be financed with Rs 26 billion in debt and Rs 13 billion in equity.

The bond will be raised on January 24 which has an implied yield of 9.45%. The fund raise is at Jsquare Electrical Steel Nashik (JESPL) entity, which was set up in September 2024 and is a subsidiary of JSW JFE Electrical Steel, a joint venture between JSW Steel and Japan's JFE Steel, Japan's second-largest steelmaker.

Both partners will infuse Rs 13 billion in equity into Jsquare and provide a board-backed letter of comfort, to ensure that the company can meet its financial obligations under the bond issuance, according to the terms of the bond.

Jsquare was established four months back and currently does not have its own operations. After the acquisition, the joint venture plans to rename tkES India to reflect the JSW and JFE brands.

The transaction will provide JSWSL, exclusive license from Thyssenkrup to manufacture cold rolled grain oriented (CRGO) electrical steel in India, which is restricted to only a handful of steel producers globally snf Jsquare will benefit from managerial, financial, and operational support from both JV partners, said Care Ratings which assigned AA-, Stable rating to the proposed NCDs.

JSW Steel has a production capacity of 35.7 million tonnes per annum (MTPA), including 1.5 MTPA in the US, while JFE Steel is a globally recognized steel manufacturer with a decades-long collaboration with JSW Steel.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Domicil Debuts In Tricity With Luxe 9 Showcase

Domicil Germany, a luxury home furnishing brand from the House of HTL International, has made its Tricity debut with an exclusive showcase at Luxe 9, marking its first retail presence in the region.The invite-only event brought together architects, interior designers, real estate developers and high-net-worth individuals, reflecting rising demand for globally inspired, design-led living spaces.Centred on the theme ‘Celebrate Living with Timeless German Design’, the showcase highlighted Domicil’s focus on combining craftsmanship, functionality and refined aesthetics. Attendees experienced..