JSW Steel Limited has confirmed the completion of the transfer of the steel business undertaking of Bhushan Power and Steel Limited (BPSL). The transfer, executed as a slump sale on a going concern basis, has been moved to JSW Sambalpur Steel Limited, a subsidiary. This action follows the prior approval for entering into a strategic 50:50 joint venture with JFE Steel Corporation, Japan, regarding the BPSL business.
Confirmation of Business Transfer
JSW Steel Limited has issued an update regarding its previous intimation made on December 3, 2025. The company confirms that the transfer of the steel business undertaking belonging to Bhushan Power and Steel Limited (BPSL) has been successfully finalized today, March 27, 2026.
Transaction Details
The transfer was executed by way of a slump sale on a going concern basis from BPSL to JSW Sambalpur Steel Limited, which operates as a subsidiary of JSW Steel Limited. This move is integral to the strategic plan involving a 50:50 Joint Venture partnership established with JFE Steel Corporation, Japan, for managing the acquired BPSL steel business.
Stakeholder Communication
The company notes that this intimation serves to update both the National Stock Exchange of India Ltd. and BSE Limited. Further details concerning this corporate action are available on the official company website, www.jsw.in.
Source: BSE
