JSW Steel Ltd.

JSW Steel has entered into a Share Subscription Agreement with JSW Paints to record the terms of the Strategic Investment, including the terms on which the company shall acquire equity shares equivalent to approximately 7.5% of the issued and paid-up equity capital of JSW Paints and 6.88% on a fully diluted basis, in the first tranche of the Strategic Investment, and the rights and obligations of the Company and JSW Paints.

By way of the Strategic Investment, the company and JSW Paints shall collaborate towards product development, new technologies, and preferred relationship for supplies in the area of coil coatings. JSW Paints would invest to create incremental capacity for industrial paints as required by the Company.

The investment is part of the company's strategy to ensure continuous supply of paints at market driven rates, gain a competitive advantage in the coil coating market. In addition, JSW Paints has been able to make inroads into the fast growing and lucrative decorative paints market, which will be value-accretive. Also, many of the paint retailers can be potential retailers for JSW Steel coated products enhancing the retail foot print for steel products.

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.