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<ul><li><keyword id="144036" type="General" weightage="70" keywordseo="jsw-group" source="Orion">JSW Group</keyword> is considering a foray into the manufacturing of EVs.</li><li>JSW Group company <keyword id="45609" type="DOMAIN" weightage="20" keywordseo="jsw-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="jsw steel" meta.entityname="JSW Steel Ltd." meta.entityid="8352" meta.seoname="jsw-steel-ltd">JSW Steel</keyword> owns and operates a one million tonne per annum (MTPA) steel plant at <keyword id="6357470" type="General" weightage="20" keywordseo="salem" source="Orion">Salem</keyword> in <keyword id="20154" type="General" weightage="20" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. </li></ul>Sajjan Jindal-led conglomerate JSW Group is considering a foray into the manufacturing of electric vehicles, according to a top official of the group. "The group had examined EV manufacturing plans earlier also but now it is becoming attractive," JSW Group Chief Financing Officer Seshagiri Rao told PTI. The manufacturing of EVs is being discussed actively at the group level, he said while divulging JSW Group's plan to expand its presence into more sectors. The group is looking to manufacture four-wheelers, Rao said. When asked about details of the manufacturing location, he said it is yet to be decided. On the timeline for the launch of an EV manufacturing facility, he said, "it (plan) is at advanced stages." JSW Group company JSW Steel owns and operates a one million tonne per annum (MTPA) steel plant at Salem in Tamil Nadu. The company manufactures auto-grade steel at Salem plant and supplies the high-value steel to automobile companies including the EVs makers. Besides, the USD 22 billion group has a significant presence in sectors like energy, infrastructure, cement, paints, <keyword id="15308892" type="TOPIC" weightage="60" keywordseo="Venture-Capital" source="TOPIC" sourcekeytype="economy,investopedia" meta.keywordsubtype="null" meta.seopath="v/venture-capital" meta.entityname="Venture Capital" meta.hostid="153" meta.entityid="venture-capital">venture capital</keyword> and sports. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">All-new Apple CarPlay features to AI for automobiles — here are some car technologies expected to arrive in 2023</a> <a href="https://www.businessinsider.in/tech/news/ces-2023-dates-news-products-and-what-to-expect/articleshow/96591686.cms">CES 2023: Dates, news, products, and what to expect</a>

JSW Group mulls foray into EVs, to manufacture 4-wheelers

Sajjan Jindal-owned <keyword id="146214" type="General" weightage="100" keywordseo="jsw-infrastructure" source="Orion">JSW Infrastructure</keyword> has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) to retire debt and support its expansion plans. JSW Infrastructure will be the third company of the <keyword id="144036" type="General" weightage="80" keywordseo="jsw-group" source="Orion">JSW Group</keyword> to be listed on the bourses after JSW Energy and JSW Steel. The ports business of the JSW Group filed the DRHP on May 9. Going by the draft papers, the IPO is purely a fresh issue of equity shares with no offer-for-sale (OFS) component, and the promoters will not be diluting their current stake through the issue. The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects, as per the draft red herring prospectus (DRHP). JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers. As of December 31, 2022, JSW Infrastructure had a net debt of Rs 2,875 crore. The company had a profit after tax (PAT) of Rs 447.2 crore in October-December 2022-23 and Earnings Before Interest, <keyword id="6368033" type="General" weightage="50" keywordseo="taxes" source="Orion">Taxes</keyword>, Depreciation, and <keyword id="990685" type="General" weightage="50" keywordseo="amortisation" source="Orion">Amortisation</keyword> (EBITDA) of Rs 1,268.6 crore. JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers. The equity shares are proposed to be listed on BSE and NSE. Besides, the Sajjan Jindal-owned JSW Group is also into cement, paints, venture capital and sports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/receiving-calls-from-international-numbers-starting-with-254-84-63-report-and-block-say-experts/articleshow/100132580.cms">Receiving calls from international numbers starting with +254, +84, +63...; report and block, say experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/ibm-partners-with-nasa-to-monitor-natural-disasters-and-climate-change-using-ai/articleshow/100132462.cms">IBM partners with NASA to monitor natural disasters and climate change using AI</a>

JSW Infrastructure files draft papers; eyes ₹2,800 cr via IPO

<keyword id="45609" type="DOMAIN" weightage="20" keywordseo="jsw-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="jsw steel" meta.entityname="JSW Steel Ltd." meta.entityid="8352" meta.seoname="jsw-steel-ltd">JSW Steel</keyword> on Tuesday said its subsidiary, <keyword id="1708324" type="General" weightage="50" keywordseo="jsw-steel-coated-products" source="Orion">JSW Steel Coated Products</keyword>, has entered into an agreement to acquire 31 per cent stake in startup <keyword id="16229994" type="General" weightage="80" keywordseo="ayena" source="Orion">Ayena</keyword> Innovation in home furnishings and decor space for a cash consideration of Rs 5.99 crore. According to the statement released on Tuesday, this proposed investment is in line with endeavours of JSW Steel Coated Products Limited to explore new avenues to increase the consumption of coated steel products. The statement of the company also added this investment will enable JSWSCPL to further diversify its customer portfolio mix and enhancing its presence in the retail business. JSW Steel said the company through its wholly-owned subsidiary, JSWSCPL, proposes to acquire 31 per cent equity shareholding in Ayena. The company said in the statement shared with stock exchanges on Tuesday that the indicative time-period for the completion of the acquisition was 45 days from the execution date of the agreements. JSW Steel is an Indian multinational steel producer based in Mumbai and is a flagship company of the <keyword id="144036" type="General" weightage="50" keywordseo="jsw-group" source="Orion">JSW Group</keyword>. After the merger of <keyword id="13989344" type="DOMAIN" weightage="20" keywordseo="ispat" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="ispat" meta.entityname="Heera Ispat Ltd." meta.entityid="3987" meta.seoname="heera-ispat-ltd">ISPAT</keyword> Steel and Jindal <keyword id="16229995" type="General" weightage="50" keywordseo="vijayanagar-steel-limited" source="Orion">Vijayanagar Steel Limited</keyword>, JSW Steel became India's second-largest private-sector steel company. Founded in 2013, JSWSCPL claims to be the country's largest manufacturer and exporter of colour-coated steel products, and a wholly owned subsidiary of JSW Steel, according to the company's website. The statement also added that Ayena is a start-up registered by the Department for Promotion of Industry and Internal Trade and will be in the business of development, manufacturing, and sales of quick-to-install modular solutions including modular kitchens. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/maruti-suzukis-q3-net-profit-zooms-133-to-2351-crore-on-lower-input-costs/articleshow/97275909.cms">Maruti Suzuki’s Q3 net profit zooms 133% to ₹2,351 crore on lower input costs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/5g-network-can-be-misused-for-drug-trafficking-money-laundering-terror-financing-papers-submitted-at-dgps-meet/articleshow/97278524.cms">5G network can be misused for drug trafficking, money laundering, terror financing: Papers submitted at DGPs' meet</a>

JSW Steel arm enters into deal to buy 31% stake in startup Ayena

Mumbai, Enterprising wicketkeeper-batsman <keyword id="3142448" type="PERSON" weightage="20" keywordseo="Rishabh-Pant">Rishabh Pant</keyword>, whose heroics helped India register one of their most memorable Test wins against Australia in Brisbane, has signed a multi-year contract with <keyword id="1689087" type="COMPANY" weightage="20" keywordseo="JSW-Sports">JSW Sports</keyword>. The <keyword id="30336" type="ORGANIZATION" weightage="20" keywordseo="Deal">deal</keyword> will see the firm manage all commercial interests and marketing rights of 23-year-old Pant. Mustafa Ghouse, CEO of <keyword id="13852" type="COMPANY" weightage="20" keywordseo="JSW">JSW</keyword> Sports, said that JSW was looking for a <keyword id="3876678" type="PERSON" weightage="20" keywordseo="long-association">long association</keyword> with the talented left-hander. "This contract will last as long as he plays. But right now, we are looking at it for a couple of years -- a minimum of two years -- and then we will extend it," Ghouse, a former India Davis Cup tennis player told. "The conditions for extending the contract beyond two years would, basically, be comfort and delivery; both parties have to be happy," he said. As part of the association, JSW Sports will manage Pant's image positioning and all his commercial engagements, including brand endorsements and appearances, social media monetisation and business deals. "I have had a close relationship with the <keyword id="144036" type="COMPANY" weightage="20" keywordseo="JSW-Group">JSW Group</keyword> and am excited to embark on this new journey with JSW Sports. I have tremendous respect for the work they have been doing to promote sports in India and have seen their dedication towards helping create and sustain a sporting culture in India," said Pant. "After having had a detailed conversation with them, I felt this was the right choice for me at this stage of my career and I am excited to be represented by them," he added. "I think what the world has seen Rishabh do at 23 is just the tip of the iceberg. We have always adopted a holistic approach to all our business verticals and we will continue to do that for 'Brand Rishabh' through this relationship," said Ghouse. On Tuesday, Pant scored a brilliant 89 not out as India chased down a 328-run target on Day Five for the Brisbane Test, thus becoming a first team in over 32 years to beat Australia at the Gabba. Courtesy their win, India won the Border-Gavaskar series 2-1, a trophy which has been with them following their maiden Test series win in 2018-19 tour Down Under. Pant ended up with the highest aggregate for India in the Test series with 274 runs in three matches, and the third overall, behind Aussies Marnus Labuschagne (426 runs in four matches) and Steve Smith (313 in four matches). SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a> <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms">Best smartphone deals and offers on Amazon Great Republic Day Sale</a>

Rishabh Pant, the star of Gabba test, signs multi-year contract with JSW Sports

MUMBAI: Sajjan Jindal-led <keyword id="45609" type="CITY" weightage="20" keywordseo="JSW-Steel">JSW Steel</keyword> has entered into a definitive agreement with <keyword id="2478848" type="UNKNOWN" weightage="20" keywordseo="Welspun-Enterprise">Welspun Enterprise</keyword> (WEL), to acquire the entire equity shares held by the latter in Welspun Maxsteel (<keyword id="2478982" type="ORGANIZATION" weightage="20" keywordseo="WMSL">WMSL</keyword>) for an enterprise value of Rs 1,000 crore plus net current assets as of August 31. The move is aimed at achieving the strategic goal to enhance its steel production to 40 MTPA in the next decade from 14.3 MTPA now. The agreement is subject to the relevant regulatory approvals and customary closing conditions. 
 
WMSL has an installed capacity of 0.9 MTPA gas-based DRI plant, with a captive jetty and a captive railway siding and the steel unit is situated in close proximity to JSW’s Dolvi unit, offering complimentary infrastructure and location to augment the current envisaged expansions at Dolvi. “In line with this objective, JSW wishes to acquire the equity shares of WMSL,” said the company in a statement on Monday evening. 
 
Seshagiri Rao, joint MD &amp; group CFO, JSW Steel, said, “This acquisition is value-accretive to JSW Steel due to synergies in supplying surplus pellets to Welspun MaxSteel and use of DRI from WMSL in company’s steel-making operations at Dolvi plant.” 
 
DRI plant is located in Salav village in Raigad district of Maharashtra. The captive jetty has an existing capacity of 2.5 MTPA, which is located at 1.8 km from the plant, while the captive railway siding is located at Roha junction on national Konkan Railway, 35 km from the DRI plant. WMSL also has vacant land of approx. 480 acres, available for future expansions. 
 
The company has surplus pellets in its subsidiary Amba River Coke which will be supplied to WMSL. The cost of production in WMSL is expected to come down due to replacement of significant portion of its bought-out pellets with captive pellets. The DRI produced by WMSL shall initially be used partly by the company’s Dolvi unit, and would be consumed in the entirety post completion of its ongoing expansion to 5 MTPA. 
 <keyword id="85953" type="COMPANY" weightage="20" keywordseo="Ernst-Young">Ernst &amp; Young</keyword> and Luthra &amp; Luthra carried out financial and legal due diligence, respectively, for JSW Steel. 
 
WEL identified WMSL as one of its non-core businesses. So it decided to exit the same. Also, the plant was running below its capacity due to irregular supply of natural gas from contracted suppliers, said WEL in a statement, adding that the transaction will strengthen company’s capabilities by synergizing all resources and reduce net debt liabilities considerably. 
 
JSW Steel shares closed up marginally at Rs 1,277 while shares of WEL closed down 5% at Rs 257 in a firm Mumbai market on Monday. The deal was announced after the closure of market hours on Monday.

JSW Steel To Buy Welspun Maxsteel

<keyword id="45609" type="General" weightage="100" keywordseo="jsw-steel" source="Orion">JSW Steel</keyword> on Friday posted a sharp 85.50 per cent fall in its December quarter consolidated net profit to ₹474 crore mainly on account of higher expenses. The firm had clocked a net profit of ₹4,516 crore in the year-ago period, it said in a regulatory filing. Total income during the October-December quarter of the ongoing fiscal rose to ₹39,322 crore from ₹38,225 crore a year ago. Expenses were also higher at ₹38,288 crore as against ₹31,986 crore. Part of the <keyword id="351399" type="General" weightage="50" keywordseo="o-p-jindal-group" source="Orion">O P Jindal Group</keyword>, <keyword id="144036" type="General" weightage="50" keywordseo="jsw-group" source="Orion">JSW group</keyword> has a presence in sectors such as steel, energy, infrastructure, cement and sports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/how-to-use-drag-and-drop-photos-and-search-by-date-on-whatsapp/articleshow/97168020.cms">WhatsApp rolls out drag and drop and search by date feature to its iOS app — Here's how to use it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/swiggy-co-founder-says-over-hiring-a-mistake-as-he-fires-380-employees/articleshow/97171514.cms">Swiggy co-founder says over-hiring a mistake as he fires 380 employees</a>

JSW Steel Q3 net profit falls over 85 % to ₹474 crore

New Delhi, <keyword id="45609" type="General" weightage="20" keywordseo="JSW-Steel" source="Orion">JSW Steel</keyword> on Friday posted about three-fold jump in net profit at Rs 2,428 crore for June quarter 2023-24 on account of higher income. It had posted Rs 839 crore net profit in the corresponding period of 2022-23, JSW Steel said in a regulatory filing. Total income also rose to Rs 42,544 crore from Rs 38,275 crore in the year-ago quarter, it said. Expenses were at Rs 39,030 crore as against Rs 36,977 crore earlier. JSW Steel is the flagship business of diversified JSW Group, which has presence in sectors such as energy, infrastructure, cement, paints, sports, and venture capital. The company's board at its meeting held on Friday appointed Swayam Saurabh as Chief Financial Officer designate, it said.

JSW Steel Q1 2023-24 profit nearly triples to Rs 2,428 cr

New Delhi, <keyword id="47954" type="General" weightage="20" keywordseo="JSW-Energy" source="Orion">JSW Energy</keyword> Ltd on Friday announced appointment of <keyword id="2514251" type="General" weightage="20" keywordseo="Sharad-Mahendra" source="Orion">Sharad Mahendra</keyword> as Joint Managing Director and CEO of the company. His appointment is effective from February 1, 2024, the company said in an exchange filing. "Consequent to the vacancy created on account of Prashant Jain's decision to take early retirement, Sharad Mahendra has been appointed as a Whole-time Director (Joint Managing Director &amp; CEO - Designate) with effect from December 1, 2023," JSW Energy said. His appointment as a Whole-Time Director is effective from December 1, 2023 for a term of 5 years. Mahendra will take charge as Joint Managing Director and CEO with effect from February 1 next year. Jain will continue to be Joint Managing Director &amp; CEO till January 31, 2024. Prior to this appointment, Mahendra was CEO of JSW Steel Coated Products Limited (a 100 per cent subsidiary of JSW Steel Limited). He has worked with JSW Energy earlier as well as Chief Operating Officer (Energy Business) in 2017 where he led the power sales, mining, corporate commercial, legal, coal procurement, regulatory and corporate affairs functions. In 2019, he was appointed as a Whole-Time Director of the company. He left JSW Energy in 2020 to join as CEO of JSW Steel Coated Products Limited.

You Searched For "JSW" and got 8 results

JSW Group mulls foray into EVs, to manufacture 4-wheelers

PTI

JSW Infrastructure files draft papers; eyes ₹2,800 cr via IPO

PTI

JSW Steel arm enters into deal to buy 31% stake in startup Ayena

ANI

Rishabh Pant, the star of Gabba test, signs multi-year contract with JSW Sports

IANS

JSW Steel To Buy Welspun Maxsteel

Piyush Pandey

JSW Steel Q3 net profit falls over 85 % to ₹474 crore

PTI

JSW Steel Q1 2023-24 profit nearly triples to Rs 2,428 cr

PTI

JSW Energy appoints Sharad Mahendra as Joint MD & CEO

PTI

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