JSW Steel’s wholly owned subsidiary, JSW Natural Resources Limited, has completed the final transfer for the acquisition of a 92.19% equity stake and shareholder loans in Minas de Revuboe Limitada (MdR). The transaction involved transferring USD 74.24 million to the designated escrow accounts. This significant financial completion occurred on March 25, 2026, following earlier initial announcements made throughout 2024 and 2025.
Finalizing Major Mining Acquisition
JSW Steel Limited confirms the successful conclusion of a key strategic acquisition involving its subsidiary, JSW Natural Resources Limited. The entity has finalized the purchase of a substantial stake in Minas de Revuboe Limitada, referred to as “MdR”. This move secures a 92.19% equity ownership in the target company.
Transaction Details Confirmed
The final step of the transaction was executed on March 25, 2026. In accordance with the definitive agreements, the subsidiary transferred a significant sum of USD 74.24 million to the designated escrow accounts to formalize the transfer of both the equity stake and the associated shareholders loans of MdR. This action follows previous intimations provided to the stock exchanges across May 2024, January 2025, and March 2025, marking the culmination of the process.
Compliance and Disclosure
This disclosure is being made for necessary information and in compliance with applicable corporate regulations. The complete details regarding this finalized acquisition will also be made publicly available on the Company’s official website.
The announcement was authorized by Manoj Prasad Singh, acting as Company Secretary in the interim capacity, on March 25, 2026.
Source: BSE
