JSW Steel Ltd.

With reference to its earlier intimation dated April 1, 2021, wherein the company had informed that it had acquired from Welspun Corp (Welspun), on a slump sale basis, the business of manufacturing of high-grade steel plates and coils (‘PCMD Business’), for a consideration of INR 848,50,00,000, subject to closing adjustments towards net working capital, and that the consideration was to be paid on a deferred basis. The company had paid an amount of INR 225,00,00,000 as on April 30, 2021 as part consideration for the acquisition of the PCMD Business, which was intimated through its letter dated May 1, 2021, and INR 498,50,00,000 on June 8, 2021 as part consideration for the acquisition of the PCMD Business, which was intimated through its letter dated June 8, 2021. Now, JSW Steel has informed that the balance consideration of INR 85,69,80, 773, after making closing adjustments towards net working capital, has been paid to Welspun on July 23, 2021, and that there is no further consideration payable to Welspun for the acquisition of the PCMD Business.

The above information is a part of company’s filings submitted to BSE.