SECTOR
JSW Steel to acquire 100% equity interest in Saffron Resources
Jul-18-2025

JSW Steel has received board’s approval for acquisition of up to 100% equity interest in Saffron Resources (Saffron). In this regard, the company has entered into a share purchase agreement (SPA) to acquire 100% equity interest in Saffron for an enterprise value of Rs 679.34 crore. The closing of the transaction is subject to satisfaction of customary conditions precedent as per the SPA. Saffron has 887 acres of land in Odisha. The land may be used by the company for its future expansion projects.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

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