Japan's JFE Steel Corporation has completed its ₹15,750 crore investment in JSW JFE Kalinga Steel Ltd., acquiring a 50% stake through the second tranche of the transaction. According to reports from CNBC TV18, the latest acquisition, completed on June 30, 2026, involved buying an additional 25% stake for ₹7,875 crore, taking JFE Steel's total holding to 50% on a fully diluted basis. The first tranche was completed earlier this year when JFE Steel invested ₹7,875 crore to acquire an initial 25% stake through the allotment of 22,694,524 equity shares. The joint venture extends to JSW JFE Kalinga and its wholly owned subsidiary, JSW JFE Steel Limited, formerly known as JSW Sambalpur Steel Limited, with the intimation submitted to exchanges pursuant to Regulation 30 of SEBI regulations.
Following the completion of both tranches, the two companies have established joint control over JSW JFE Kalinga Steel Ltd. and its wholly owned subsidiary, JSW JFE Steel Ltd., in line with the Joint Venture Agreement signed on December 3, 2025, as reported by CNBC TV18. This formalizes the partnership structure between the Indian and Japanese steel companies in their joint venture operations, with the equal control structure granting JFE Steel equal influence over strategic decision-making within the entity.
Separately, JSW Steel reported robust March quarter earnings that exceeded Street expectations, with revenue rising 14.2% year-on-year to ₹51,180 crore and EBITDA increasing 40.7% to ₹8,634 crore. According to CNBC TV18, the EBITDA margin expanded to 16.9%, aided by better steel realisations and improved operational performance. The strong financial results demonstrate the company's operational efficiency and market positioning ahead of the JFE Steel partnership.
The board has recommended a final dividend of ₹7.10 per equity share for FY26, subject to shareholder approval at the company's annual general meeting scheduled for July 24, 2026, as reported by CNBC TV18. The record date for determining eligible shareholders has been fixed as July 7, 2026. However, shares of JSW Steel were trading 0.39% lower at ₹1,227.60 on Tuesday, indicating mixed market sentiment despite the positive developments from the JFE Steel partnership completion.
