JSW Steel Acquires 100% Equity Interest in Saffron Resources for INR 679.34 Crore

JSW Steel Ltd has entered into a Share Purchase Agreement (SPA) to acquire 100% equity interest in Saffron Resources Private Limited for an enterprise value of INR 679.34 crore. The acquisition includes 887 acres of land in Odisha, which may be used for future expansion projects. The transaction is subject to customary conditions precedent as per the SPA. The acquisition does not fall under related party transactions and the promoter/promoter group/group companies do not have any interest in the entity being acquired. The cost of acquisition is INR 679.34 crore with a holdback amount of INR 40.1 crore. JSW Steel will acquire 100% equity interest in Saffron.