JSW Steel has entered into a 50:50 joint venture with JFE Steel Corporation, Japan, focusing on the business undertaking of Bhushan Power and Steel Limited (BPSL). JSW Steel has also entered into a business transfer agreement with JSW Sambalpur for the transfer of Steel business undertaking of BPSL to JSW Sambalpur, through a slump sale on a going concern basis. The deal is subject to regulatory and shareholder approvals.
Strategic Joint Venture
JSW Steel and JFE Steel Corporation Japan have formalized a 50:50 joint venture. The focus of this joint venture is the business undertaking of Bhushan Power and Steel Limited (BPSL), specifically its steel business. This agreement, announced on December 3, 2025, signifies a major strategic move for JSW Steel in expanding its operations.
Business Transfer Agreement
Alongside the joint venture, JSW Steel has also entered into a business transfer agreement with JSW Sambalpur. This agreement involves the transfer of the Steel business undertaking of BPSL to JSW Sambalpur. The transfer will be executed through a slump sale, ensuring the business continues as a going concern.
Approvals and Next Steps
The completion of both the joint venture and the business transfer are contingent upon securing necessary regulatory and shareholder approvals. This includes securing approval from the Competition Commission of India. Once these approvals are obtained, the joint venture and business transfer can proceed as planned.
Source: BSE