Private Equity

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JSW Steel completes strategic investment of Rs.750-Cr in JSW Paints

Economic Times  

Sajjan Jindal-led JSW Steel has completed strategic investment of INR 750 crore in JSW Paints. The investment was planned to be carried out in 3-4 tranches between FY 2021-22 to FY 2024-25. The last tranche of investment of around INR 75 crore was made on November 22, 2023. Post this allotment, JSW Steel holds 2,94,82,565 equity shares in JSW Paints, representing 12.84% of the issued and paid-up equity capital of JSW Paints (11.85% on a fully diluted basis). In the first tranche, JSW Steel invested around INR 300 crore and subscribed to equity shares equivalent to approximately 7.5% of the issued and paid-up equity capital of JSW Paints and 6.88% on a fully diluted basis by the end of Q2 of FY 2021-22.