JSW Steel Ltd.

JSW Steel is reportedly all set to ink deal with Welspun Maxsteel for Maharashtra-based steelmaking unit. Moreover, the company will take over Rs 1,100 crore of debt of Welspun Maxsteel and free all the guarantees given by the Welspun group to banks. Though, JSW Steel is yet to finalize payout over and above debt.

The deal, which is subject to lenders’ approval, is likely to be completed by Mid July. Further, JSW will acquire full management control after regulatory nod.

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. 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.