JSW Steel has acquired the remaining 26.45pc stake of its subsidiary JSW Vallabh Tinplate (JSW VTPL), thr company said in a recent release. Consequently, JSW Steel’s shareholding in JSW VTPL is 100pc.
The steelmaker had entered into a legal binding share purchase agreement to purchase in one or more tranches 1,32,37,227 equity shares of Rs10/- each representing 26.45pc of the issued and paid-up share capital of JSW VTPL from the existing third-party shareholders of JSW VTPL.
JSW VTPL manufactures and supplies steel plates, galvanized sheet, and coir at its unit in Punjab.
JSW Steel plans to achieve 45mn mt of capacity annually ahead of its 2030 timeframe, according to media reports.