JSW Steel Ltd.

JSW Steel has completed the acquisition of Vardhman Industries (VIL) by infusing Rs 63.50 crore into the debt-ridden company. The company has been issued equity shares and compulsorily convertible debentures in VIL in lieu thereof.

The acquisition has been done as per the resolution plan approved by the lenders of VIL and the National Company Law Tribunal (NCLT). Following this, VIL has become a wholly-owned subsidiary of JSW Steel.

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.