JFE Steel Corporation has finalized the acquisition of an additional 25% stake in JSW JFE Kalinga, bringing its total holding in the joint venture to 50%.
The transaction, valued at ₹7,875 crore, was confirmed by JSW Steel in a filing with Indian stock exchanges on Monday.
The deal marks a significant shift in the ownership structure of the Kalinga plant, a key asset in the Indian steel sector.
By moving to equal partnership status, JFE Steel underscores its strategic focus on expanding its footprint in emerging markets, particularly in India where demand for industrial metals remains robust.
The completion of the transaction removes any lingering uncertainty regarding the joint venture's governance and capital allocation.
This development arrives as Indian equity benchmarks trade with caution.