Jsquare Electrical Completes Major Acquisition: A Leap in the Indian Electrical Steel Market

Jsquare Electrical Steel Nashik Pvt Ltd has acquired a 100% stake in thyssenkrupp Electrical Steel India Pvt Ltd (tkES India) for Rs 4,158.6 crore. This acquisition allows J2ES, a JSW JFE joint venture, to extend its presence in India's GOES market, supporting JSW's strategic growth in value-added products.

Jsquare Electrical Steel Nashik Pvt Ltd has successfully completed its acquisition of thyssenkrupp Electrical Steel India Pvt Ltd (tkES India) for a significant Rs 4,158.6 crore, the company disclosed in a recent stock exchange filing.

As a subsidiary of the JSW JFE Electrical Steel Pvt Ltd joint venture, which was formed through a partnership between JSW Steel and Japan's JFE Steel Corporation, Jsquare's acquisition marks a critical step in the firm's strategic expansion plans. The completed transaction not only includes the full equity stake in tkES India but also the associated technology package from the thyssenkrupp group.

This strategic move comes as part of JSW's broader intent to dominate the grain-oriented electrical steel (GOES) market in India. With the acquisition completed, J2ES aims to integrate its manufacturing and sales operations to establish a leading market position locally, aligning with the company's goal of enhancing its portfolio with more value-added products.

(With inputs from agencies.)