JSW Steel Acquires Dolvi Minerals and Metals Private Limited

Deepthi | Myequity news | Date : 24-10-2018 11:25:00 IST

JSW Steel Limited has acquired an aggregate of 60.004%  of the share capital of Dolvi Minerals and Metals Private Limited, a company engaged in the business of acting as traders, whole-sellers and retailers in all forms of metallic and non-metallic minerals, which includes coal and lignite, coal products and iron steel products, from the existing investor(s) of DMMPL.



JSWSL currently holds 39.996%  of the share capital of DMMPL and has executed: (i) a share purchase agreement dated 23 October 2018 with Axis Bank Limited for acquisition of 1,00,00,000 equity shares of DMMPL aggregating to 9.999%  of the issued and paid-up equity share capital of DMMPL; (ii) a share purchase agreement dated 23 October 2018 with Enam Securities Private Limited for acquisition of 3,05,00,000 equity shares of DMMPL aggregating to 30.497% of the issued and paid-up equity share capital of DMMPL; (iii) a share purchase agreement dated 23 October 2018 with Standard Chartered Private Equity (Mauritius) II Limited for acquisition of 1,95,00,000 equity shares of DMMPL aggregating to 19.498% of the issued and paid up equity share capital of DMMPL; and purchased 10,000 equity shares of DMMPL aggregating to approximately 0.01% from other small equity holders.


Pursuant to the acquisition of shares of DMMPL, DMMPL has become a wholly owned subsidiary of JSWSL.

About JSW Steel Ltd:

JSW Steel is a part of the diversified US$ 13 billion JSW Group, which has a presence in Steel, Energy, Infrastructure, Cement, Ventures and Sports. JSW Steel is the leading integrated steel company in India with an installed steel-making capacity of 18 MTPA. JSW Steel's plant at Vijayanagar in Karnataka, is the largest single location steel producing facility in the country with a capacity of 12 MTPA.


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