JSW Steel, JFE Steel form JV for Bhushan Power & Steel business

JSW Steel Limited informed stock exchanges on December 3, 2025, that its board of directors had approved entering into a 50:50 joint venture partnership with JFE Steel Corporation, Japan ("JFE"). This partnership is specifically for the steel business undertaking of Bhushan Power and Steel Limited ("BPSL").

The company and JFE have formalized this collaboration by executing a joint venture agreement. Additionally, JSW Steel has entered into a business transfer agreement with JSW Sambalpur for the transfer of BPSL's steel business undertaking via a slump sale on a going concern basis. A share subscription agreement and other ancillary agreements have also been finalized by the relevant parties.

This significant transaction is contingent upon receiving necessary regulatory and shareholder approvals, including clearance from the Competition Commission of India.