[SMM Steel] JSW Steel and JFE Steel establish joint control over Kalinga and Sambalpur units

Published: Mar 30, 2026 16:53

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[SMM Steel] On March 30, 2026, JSW Steel announced that Japan's JFE Steel Corporation completed a ₹7,875 crore investment as the first tranche for a 25% stake in JSW Kalinga Steel. Following the share allotment and board restructuring, both companies now exercise joint control over JSW Kalinga and its subsidiary, JSW Sambalpur Steel. Under the joint venture agreement, JFE is set to acquire an additional 25% stake for another ₹7,875 crore to reach a total 50% holding.

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