General Announcement::Share Subscription Agreement with JSW Paints Private Limited

Issuer & Securities

Issuer/ Manager
JSW STEEL LIMITED
Securities
JSWSTEELUS$500M5.95%N240418 - XS1981202861 - VA4B
JSWSTEELUS$400M5.375%N250404 - XS2049728004 - OGGB
JSWSTEELUS$500M4.75%N191112 - XS1133588233 - 20PB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
23-Jul-2021 18:56:01
Status
New
Announcement Sub Title
Share Subscription Agreement with JSW Paints Private Limited
Announcement Reference
SG210723OTHRTXCH
Submitted By (Co./ Ind. Name)
JSW STEEL LIMITED
Designation
COMPANY SECRETARY
Effective Date and Time of the event
23/07/2021 16:15:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of the Company had approved to make a strategic investment of approximately INR 750,00,00,000 in JSW Paints Private Limited ( JSW Paints ) in 3-4 tranches between FY 2021-22 to FY 2024-25 ( Strategic Investment ). In the first tranche of the Strategic Investment, the Company shall invest INR 299,99,99,775 and subscribe 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 end of Q2 of FY 2021-22.

In furtherance of the same, the Company has entered into a Share Subscription Agreement with JSW Paints on 23.07.2021 to record the terms of the Strategic Investment

Attachments

SEPaints.pdf
Total size =737K