JSW Steel completes strategic investment of Rs 750 cr in JSW Paints

Sajjan Jindal-led JSW Steel has officially completed the authorized strategic investment of Rs 750 crore in JSW Paints, as announced by the company. 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 Rs 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 Rs 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, the company said.

The approval for this strategic investment was granted by the Board of Directors during a meeting on July 23, 2021, JSW Steel stated in regulatory filing.