JSW Steel has completed the Rs 750 crore investment in JSW Paints. With the last tranche of investment of Rs 74,99,99,903, the company has completed making the entire investment of Rs 750 crore in JSW Paints and has been intimated by JSW Paints that it has on November 22, 2023, completed the allotment in respect of the aforesaid strategic investment.
Post this allotment, the company holds 2,94,82,565 equity shares in JSW Paints, representing 12.84 per cent of the issued and paid-up equity capital of JSW Paints (11.85 per cent on a fully diluted basis). On July 23, 2021, the JSW Steel board approved to make a strategic investment of Rs 750 crore in JSW Paints in 3-4 tranches between FY 2021-22 and FY 2024-25.
JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
Company Name | CMP |
---|---|
JSW Steel | 879.95 |
Tata Steel | 167.60 |
SAIL | 162.95 |
Jindal Stainless | 721.75 |
APL Apollo Tubes | 1563.00 |
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