Jsw

JSW One raises Rs 205 cr from Japan's Mistui at Rs 2,750 cr valuation

B2B e-commerce firm of JSW Group will use the financing to expansion business

JSW One Platforms raises Rs 205 cr in funding from Japan's Mitsui

E-commerce venture of US Group will use the financing to expand business and improve technology

JSW One Platforms raises Rs 205 cr from Mitsui at Rs 2,750 cr valuation

Sajjan Jindal-led JSW Group's business-to-business e-Commerce arm on Monday announced a Rs 205 crore fund raise from Japan's Mitsui & Co. The Series A funding, which is also the maiden capital raise from an institutional investor by JSW One Platforms, has been done at a valuation of Rs 2,750 crore, as per an official statement. The USD 22 billion conglomerate had launched the business in July 2021, aiming to leverage on its expertise in manufacturing and building materials, tech-enabled logistics and credit, to be a platform of choice for MSMEs and Enterprises in India. It plans to plough-in the funds to strengthen its market presence and further enhance tech capabilities, the statement said, adding that it is expanding operations in newer geographies like NCR, Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh. It will also invest in credit, logistics, and technology stack to improve customer experience. Masaharu Okubo, the country chairperson in India of Mitsui & Co said ..

JSW Neo Energy bags 300 MW pumped hydro storage project in Karnataka

JSW Neo Energy on Friday said it has bagged a 300 MW pumped hydro storage project from Power Company of Karnataka Ltd (PCKL). "JSW (Neo) Energy receives LoI (letter of intend) for 300 MW Hydro PSP from PCKL," a JSW Energy statement said. It further said that JSW Neo Energy Ltd (JSW Neo), a wholly-owned subsidiary of JSW Energy, has received a letter of intent from PCKL for procurement of 2,400 MWh (300 MW x 8 hours) energy storage from the pumped hydro storage project (PSP). The LoI is for providing storage capacity for 40 years. The project will be located in Karnataka and designed for eight hours of storage capacity per day. Prashant Jain, Joint Managing Director and CEO of JSW Energy, said, "We are excited to bag our first hydro pump storage project and we have already secured resources for 64 GWh of hydro PSP across various states". This is our second utility-scale storage project in addition to 'Battery Storage' secured under a competitive bidding process, he added. The com

JSW Energy board approves allotment of 25,000 NCDs to raise Rs 250 cr

JSW Energy board on Wednesday approved allotment of 25,000 non-convertible debentures (NCD) on a private placement basis to raise Rs 2,500 crore. "Finance Committee, at its meeting held on 15th March 2023, approved the allotment of 25,000 Unsecured, Redeemable, Rated, Listed, Taxable, Non-Convertible Debentures of Rs 1,00,000 (Rupees One Lakh) each aggregating to Rs 250,00,00,000," a BSE filing stated. The Board of Directors on October 28, 2022, approved the NCD issue for the raising of funds up to Rs 2,500 crore by way of the private placement.

Marginal growth in demand expected in 2023: JSW Steel's Seshagiri Rao

The world economy is not growing in a robust manner so I don't expect a big turnaround in steel demand as seen in 2021, says Rao

JSW Ispat Special Products Q3 consolidated net loss widens to Rs 97.98 cr

The company had posted a Rs 27.12 crore net loss in the year-ago period, according to a statement

New player will always need more dealers: JSW Paints CEO Sundaresan A S

The company also intends to add one more manufacturing in the next three years with an investment of Rs 750-1,000 crore, Sundaresan A S, CEO at JSW Paints told Business Standard

JSW Steel's combined output in Q3 grows 17% to 6.24 MT, says report

JSW Steel on Monday said its combined crude steel production rose 17 per cent to 6.24 million tonne (MT) during October-December period of 2022-23. The combined production during the year-ago quarter was at 5.35 MT, JSW Steel said in a statement. "JSW Steel reported its group combined crude steel production at 6.24 million tonne for Q3 FY23 registering a growth of 17 per cent y-o-y (year-on-year), including the production at jointly controlled entities," it said. Its standalone output rose 20 per cent to 6.06 MT in Q3 from 5.05 MT in the year-ago period. According to the company, the combined production includes output of jointly controlled entities Bhushan Power & Steel Ltd (BPSL) and JSW Ispat Special Products Ltd (JISPL), and offshore entity JSW Steel USA Ohio. JSW Steel is among India's top six steel making companies.

JSW ReNew Energy commissions 27 MW wind energy capacity in Tuticorin

JSW Energy on Monday said that its arm JSW ReNew Energy has commissioned 27 MW wind energy generation capacity at Tuticorin in Tamil Nadu as part of the first phase of its 450 MW wind project. "JSW Renew Energy Two Ltd, a step-down subsidiary of JSW Energy, has started phase-wise commissioning of 450 MW ISTS-connected wind power project awarded under SECI (Solar Energy Corporation of India) tranche X at Tuticorin in Tamil Nadu with commissioning of the first phase of 27 MW," a BSE filing stated. This is the company's first greenfield wind power project to be commissioned and is a testament of the group's project execution capabilities, it stated. The project has the power purchase agreement with the SECI for a period of 25 years. In addition to this project, the company is also constructing 1.8 GW of greenfield renewable energy capacity in pursuit of reaching 10 GW capacity well ahead of its FY25 timelines, and 20 GW capacity by FY30. Prashant Jain, Joint Managing Director and CEO

JSW group's renewable energy unit to raise Rs 3,900 crore term loan

JREVL is developing an 825 Mw hybrid plant (225 Mw solar, 600 Mw wind) at a cost of Rs 5,255 cr; India Rating has assigned an "A+" to the loan

Maersk, JSW and Essar Ports join the race for divestment of Concor

The latest development comes at a time when reports indicate that Maersk is planning to double its warehousing presence in India in the next one year

Modi says India best for investments; JSW, Adani commit Rs 1 trn in K'taka

JSW, Adani commit to spend over Rs 1 trn each in Karnataka over 5-7 years

JSW Energy likely to close Rs 10,530-cr Mytrah acquisition by December-end

The deal, announced in August, is JSW Energy's largest till date; will take the firm's operational generation capacity to 6.5 Gw from 4.8 Gw now, and accelerate its plans to achieve 10 Gw by FY25

JSW Steel: Lower costs, prices should boost margins in second half of FY23

Given fair value estimates of Rs 530 to Rs 610, investors need to be cautious about company

JSW Steel's 2 Indian subsidiaries expected to return to profit in Q3 FY23

Global macroeconomic challenges to shape turnaround of JSW Steel and Bhushan Power & Steel

Don't see further price correction, says JSW Steel's Seshagiri Rao

Steel prices appear to have reached their bottom and are likely to go up from their current levels if supply adjustments globally are any indication in the sector, a top JSW Steel official said on Sunday. Steel prices fell around 40 per cent to Rs 55,000-57,000 a tonne in the domestic market. The prices had started falling from April-end. I don't foresee further downside in steel prices. Globally, there is a production cut of 62 million tonne. Moreover, 29 per cent of Chinese steel capacity is under bankruptcy. Global supply adjustments and higher Indian steel consumption will help keep prices firm, JSW Joint Managing Director and Group CFO Seshagiri Rao told PTI in an interview. Compared to 2021-22, domestic steel demand will be higher by nine million tonne to 115 million tonne by March this financial year, he said. The World Steel Association forecasts that demand for the metal will contract by 2.3 per cent in 2022 to reach 1,796.7 million tonne, after an increase by 2.8 per cen

JSW Cement to invest over Rs 3,200 crore in new plants in MP and UP

The combined cement capacity of these units will be 5 million tonnes per annum

JSW Ports repays Rs 862 cr; to be net debt-free in 2-3 yrs: CFO JSW Infra

The second-largest private sector port operator JSW Ports, which has completed capacity expansion at an investment of Rs 4,000-crore, eyes to be a net-debt-free company over the next two-three years having already pared Rs 862 crore so far this fiscal. The company financed the repayments of higher-cost rupee loans from a consortium of lenders, which were priced at 9.5 per cent, partly with internal accruals and the rest from the USD 400-million overseas bond issuance in February this year, Lalit Singhvi, the chief financial officer and a director at JSW Infrastructure, the fully-owned arm of the Sajjan Jindal-run JSW Group and the holding company of the ports business, told PTI on Friday. After paying back Rs 862 crore of debt, he said, the company will have on its book a net debt of Rs 2,700 crore and gross debt of Rs 4,200 crore. With this JSW Ports has already repaid over Rs 2,800 crore in the past few years. The rupee debt was from a consortium of banks comprising Axis Bank, ...

'Not substantiated': CCI drops JSW Paints' plea against Asian Paints

JSW Paints also told CCI that Asian Paints allegedly also pressurised enterprises that provided infrastructure facilities like warehouses to JSW Paints to not stock products of JSW Paints