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JSW Steel’s JV’s arm to acquire 100% of equity interest in tkES India

21 Oct 2024 Evaluate

JSW Steel and JFE Steel Corporation’s (JFE) joint venture -- JSW JFE Electrical Steel’s (J2ES) wholly owned subsidiary -- Jsquare Electrical Steel Nashik has entered into a share purchase agreement to acquire 100% of equity interest in thyssenkrupp Electrical Steel India (tkES India), and the Company has entered into other agreements including for licensing/transfer of associated technology package from thyssenkrupp group (together, the Transaction). The total purchase consideration for the transaction is Rs 4,051.40 crore, subject to closing adjustments.

tkES India is one of the first manufacturers of grain-oriented electrical steel (GOES) in India with its facility located in Nashik, Maharashtra. The acquisition provides the Company with access to cutting-edge technology thereby aligning with its strategy of enhancing its value-added portfolio.

In February 2024, JFE Steel and JSW established JSW JFE Electrical Steel, a joint venture for the production of GOES, with the aim of establishing an integrated manufacturing system for GOES in India. J2ES is expected to commence full production in 2027. Now, through this acquisition, JSW and JFE shall achieve instant market access and can promptly establish an integrated system from manufacturing to sales of GOES in India.

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.

JSW Steel Share Price

1274.85 34.95 (2.82%)
20-Apr-2026 16:59 View Price Chart
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