JSW Steel acquires remaining 50% stake in NSL Green Steel Recycling

New Delhi: JSW Steel on Wednesday announced acquiring the remaining 50 percent stake in NSL Green Steel Recycling Limited.

Post completion of the acquisition, NSL has become a wholly-owned subsidiary of the company, JSW Steel said in a regulatory filing.

JSW, on September 27, 2023, completed the acquisition by purchase of the entire 50 percent stake held by National Steel Holding Limited (NSHL) in NSL, it added.

"Consequent to completion of this acquisition and other closing conditions as mentioned in the Securities Purchase Agreement (SPA), JSW's shareholding in NSL has increased from 50 percent (pre-acquisition) to 100 percent (post-acquisition), and NSL has become a wholly-owned subsidiary of the company effective today," it said.

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