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JSW Steel is in advanced discussions with Japan’s JFE Steel Corporation to sell a minority stake in its subsidiary Bhushan Power & Steel Ltd (BPSL), according to sources quoted by Business Standard.
The proposed deal is part of JSW’s strategy to monetize non-core assets and strengthen its balance sheet, while deepening strategic ties with JFE in high-grade steel and automotive steel technologies.
JSW currently owns 100% of BPSL, which it acquired through insolvency proceedings in 2021 for about ₹19,000 crore. BPSL operates a 3.5 million tonnes per annum (MTPA) integrated steel plant in Jharsuguda, Odisha, producing hot rolled coils, cold rolled sheets, and value-added steel for automotive and construction sectors.
JFE Steel, already a joint venture partner in JSW Steel’s Baytown and Maharashtra operations, could bring technical expertise and advanced product know-how to enhance BPSL’s product mix and operational efficiency.
While the final contours of the deal are yet to be confirmed, industry observers expect the Japanese firm to pick up a 10–20% stake, pending necessary regulatory and board approvals. The move is seen as part of JSW’s broader effort to align with global partners and boost its portfolio of high-strength and green steel products.
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