Post completion of the acquisition, NSL has become a wholly-owned subsidiary of JSW Steel.

On 27 September 2023, the steel maker completed the acquisition by purchase of the entire 50% stake held by NSHL in NSL.

?Consequent to completion of this acquisition and other closing conditions as mentioned in the SPA, the company's shareholding in NSL has increased from 50% (pre-acquisition) to 100% (post-acquisition) and NSL has become a wholly owned subsidiary of the company.?

JSW Steel, the flagship business of the diversified JSW Group, is India's leading integrated steel company.

The steel major reported a consolidated net profit of Rs 2,338 crore in Q1 FY24, steeply higher than Rs 838 crore posted in Q1 FY23. Revenue from operations grew by 10.84% year on year to Rs 42,213 crore in the quarter ended 30 June 2023.

Shares of JSW Steel declined 0.53% to Rs 775.60 on the BSE.

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