On Friday, October 18, JSW Steel Ltd announced that its subsidiary, Jsquare Electrical Steel Nashik Private Ltd, has signed a share purchase agreement to acquire the entire equity in Thyssenkrupp Electrical Steel India Private Ltd (tkES India). The total deal is valued at ₹4,051.40 crore, with final adjustments pending at closing.
Thyssenkrupp Electrical Steel India is a leading producer of grain-oriented electrical steel (GOES) in India, with a facility in Nashik, Maharashtra. The acquisition will provide JSW with access to advanced technology, boosting its strategy to expand its value-added product portfolio. In February 2024, JSW partnered with JFE Steel to form JSW JFE Electrical Steel Private Limited, a joint venture focused on producing GOES and establishing an integrated manufacturing system in India.
With this acquisition, JSW and JFE will gain immediate market access and establish a fully integrated supply chain for GOES, from production to sales, within India. Full production at the joint venture’s new facility is expected to begin by 2027.
Jayant Acharya, Joint Managing Director and CEO of JSW Steel, commented, “The GOES market is expanding rapidly. This acquisition allows JSW and JFE to manufacture GOES domestically and supply both Indian and international customers, promoting import substitution and advancing India’s self-reliance.”
The transaction is subject to regulatory approval and customary closing conditions. Shares of JSW Steel Ltd closed at ₹997.35, rising by ₹17.25 (1.76%) on the BSE. JSW Steel Ltd is one of India’s leading integrated steel manufacturers and a key player in the global steel industry. Part of the JSW Group, the company is known for its innovation-driven approach and high-quality steel production.
JSW Steel operates cutting-edge facilities across India, with a significant presence in Karnataka, Maharashtra, and Tamil Nadu, producing a wide range of products like hot-rolled coils, cold-rolled steel, and galvanized sheets.
Committed to sustainability, JSW Steel invests heavily in green steel manufacturing, waste reduction, and energy efficiency, while playing a crucial role in sectors such as infrastructure, automotive, and energy. Through global partnerships and a focus on innovation, JSW Steel continues to expand its footprint in international markets.
