JSW Steel has successfully completed the final phase of a ₹750 crore strategic investment in JSW Paints, the Indian steelmaker announced on Thursday. The expansion plan of JSW Paints was planned to be invested in 3-4 installments over the last three years.
JSW Group’s flagship company, announced an investment of ₹750 crore in JSW Paints in July 2021. The company invested ₹300 crore in its first installment in 2021 in JSW Paints. On November 22, it made the final installment of ₹75 crore to complete its strategic investment.
“We would now like to inform you that with the last phase of INR 74,99,99,903 investment made on November 22, 2023, the company has completed and has completed the full investment of INR 750,00,00,000 in JSW Paints. It was reported today by JSW Paints that it is dated November 22, 2023,” the company said in its stock filing Thursday.