JSW to buy Welspun Maxsteel for enterprise value of $165m

Tags: Companies
JSW Steel Ltd has agreed to acquire local steelmaker Welspun Maxsteel Ltd for an enterprise value of 10 billion rupees from Welspun Enterprises to bolster its production capacity.

The equity value of the deal, which is subject to regulatory approvals, was not disclosed. Welspun Maxsteel has an installed capacity of 900,000 tonnes per annum at its plant in Raigad district of Maharashtra.

JSW Steel has an installed capacity of 14.3 million tonnes, and the company plans to raise it to 40 million tonnes in the next decade, the company said in a statement late on Monday.

EDITORIAL OF THE DAY

  • Next two years could be a turning point for India that’s on the cusp of a big change

    After three years in office, prime minister Narendra Modi’s performance and acceptability ratings continue to be high even as the ruling BJP-led Nat

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust: Islam’s dance of death

It is a short walk between victim hood and blood ...

Susan Visvanathan

Landed in trouble

The British always required get away places. Shimla is the ...

Zehra Naqvi

Mindful meditation in everyday life

Amid the vast multitude of tasks and huge amounts of ...