JSW steel arm to raise Rs 2600 cr for Thyssenkrupp unit buyout

JSW Steel's subsidiary plans to raise ₹2,600 crore through a three-year zero-coupon bond to finance its ₹3,900 crore acquisition of Thyssenkrupp Electrical Steel India. This strategic acquisition aims to enhance JSW's position in the electrical steel market, vital for energy-efficient applications. The deal is part of a joint venture with Japan's JFE Steel and is expected to bolster local manufacturing capabilities. Completion of the acquisition is subject to regulatory approvals, marking a significant step towards self-reliance in India's steel sector

Source: Money control, The Economic times