JFE Commits ₹7,875 Crore Investment in JSW Steel Joint Venture.

Sajjan Jindal-led JSW Steel announced that JFE Steel Corporation has invested the first tranche of ₹7,875 crore in their proposed joint venture, JSW Kalinga Steel.

Following the investment, JSW Steel allotted approximately 2.27 crore equity shares, representing a 25% stake in JSW Kalinga, to JFE.

As per the joint venture agreement signed on December 3, the allotment and subsequent changes in board composition have established joint control of JSW Kalinga and its wholly-owned subsidiary, JSW Sambalpur Steel, between the two companies.