JSW Steel has successfully completed the transfer of the steel business undertaking of Bhushan Power and Steel Limited (BPSL) to its subsidiary, JSW Sambalpur Steel Limited. This strategic move was executed through a slump sale on a going concern basis.
The completion of this transfer marks a significant milestone in the joint venture between JSW Steel and JFE Steel Corporation, Japan. The joint venture aims to enhance the steel business operations of BPSL, leveraging the expertise and resources of both JSW Steel and JFE Steel Corporation.
The decision to transfer the steel business undertaking was initially approved by the Board of Directors of JSW Steel during a meeting held on December 3, 2025. The board had sanctioned the slump sale as part of a strategic partnership with JFE Steel Corporation to strengthen the steel business of BPSL.
The transfer aligns with JSW Steel’s strategic objectives to expand its footprint in the steel industry and optimise its operational capabilities through collaborations with international partners like JFE Steel Corporation.
This development is in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made this information available on its official website, ensuring transparency and compliance with regulatory requirements.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).