JFE Steel paid 2nd tranche June 30, completing JV transaction with JSW Steel
This story was originally published at 17:48 IST on 17 July 2026
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MUMBAI – JSW Steel Ltd. said the Japan-based JFE Steel Corp. made the second tranche of equity investment of INR 78.75 billion in their 50-50 joint venture company JSW JFE Steel Ltd. Jun. 30. With this, the joint venture transaction is "now completed", JSW Steel said in an earnings investor presentation Friday.
In the last quarter of the financial year 2025-26 (Apr-Mar), JSW Steel had sold its subsidiary Bhushan Power and Steel Ltd. on a slump-sale basis to JSW Sambalpur Steel. Later, these operations were deconsolidated from JSW Steel into a new entity that was renamed JSW JFE Steel when the joint venture agreement was finalised. JFE Steel Corp. had made the first tranche of equity investment of INR 78.75 billion at the end of March.
JSW Steel Friday said in the presentation that the steel business under Bhushan Power and Steel had been "de-consolidated from JSW Steel's financials with effect from 27 March 2026". JSW Steel's share in the joint venture JSW JFE Steel is reflected in the "share of profit of joint ventures" line of the profit-and-loss statement.
JFE Steel Corp. had, in a press release on Mar. 31, said it expects the joint venture with JSW Steel to capture steel demand "in the rapidly growing Indian market and achieve accelerated profitability" by bringing its technological strengths to the joint venture. The Japan-based company had said the joint venture will be able to expand the production of high value-added products.
Friday, shares of JSW Steel ended at INR 1,237.30, up 1.3% from Thursday, on the National Stock Exchange. End
Reported by Rajesh Gajra
Edited by Rajeev Pai
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