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JSW Steel acquires 60% stake in DMMPL

JSW Steel has acquired an aggregate of 60.004% of the share capital of Dolvi Minerals and Metals Private (DMMPL), 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 investors of DMMPL. Prior to this agreement, the company holds 39.996% of the share capital of DMMPL.

Pursuant to the acquisition of shares of DMMPL, it has become a wholly owned subsidiary of the company, wherein JSW Steel and its nominees hold 100% of the issued and paid-up equity share capital of DMMPL.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.