JSW Steel Limited's board of directors has formally approved the Share Subscription and Joint Venture Agreement with South Korea's POSCO Group at its meeting held on April 17, 2026. The partnership involves transforming Saffron Resources Private Limited from a wholly owned JSW Steel subsidiary into a 50:50 joint venture through a comprehensive share subscription agreement for establishing a 6 MTPA integrated steel manufacturing facility in Odisha.

Board Meeting and Regulatory Compliance

The board meeting, which commenced at 12:30 p.m. and concluded at 1:40 p.m. (IST), approved entering into the agreement with POSCO Co., Ltd and POSCO-India Private Limited. The company has issued formal intimation to both NSE and BSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Joint Venture Investment Structure

The confirmed deal structure involves POSCO Co., Ltd and POSCO-India Private Limited subscribing to shares in Saffron Resources Private Limited for a total consideration of approximately INR 508.8 crore, subject to closing adjustments. This investment establishes equal ownership between JSW Steel and the POSCO Group in the joint venture entity.

Land Assets and Project Foundation

Saffron Resources Private Limited holds substantial land assets in Odisha that will support the proposed greenfield integrated steel plant development. The comprehensive land portfolio provides a strong foundation for the 6 MTPA capacity facility.

Strategic Partnership Advantages

The joint venture represents a significant strategic alliance between two major steel producers. POSCO Co., Ltd, headquartered in Pohang, South Korea, operates approximately 45 MTPA of steel manufacturing capacity and holds the distinction of being South Korea's largest steel producer. World Steel Dynamics has recognized POSCO as one of the world's most competitive steelmakers.

The partnership enables JSW Steel to access advanced technology and manufacturing capabilities for high-grade steel products, particularly for automotive and specialized applications. This collaboration aligns with JSW Steel's expansion strategy as the company aims to achieve 50 MTPA production capacity in India by FY31, building on its current crude steel production capacity of 35.7 MTPA.

Governance Framework

The joint venture agreement establishes balanced governance mechanisms between the partners. Both JSW Steel and POSCO Group will have the right to appoint an equal number of directors to Saffron's board, ensuring proportionate representation in decision-making processes.

Financial Position of Saffron Resources

As of March 31, 2025, Saffron Resources Private Limited maintained a net worth of INR 4.95 crore with nil turnover for FY25, reflecting its status as a project development entity within JSW Steel's portfolio.

The transaction does not fall within the ambit of related party transactions, as POSCO Group has no existing relationship with JSW Steel's promoter, promoter group, or group companies. The definitive agreement is expected to be executed in due course following all regulatory approvals.

Sundram Fasteners Limited has disclosed the publication of newspaper advertisements regarding the Investor Education and Protection Fund Authority's (IEPFA) second 100-day campaign titled "Saksham Niveshak." The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Campaign Details and Objectives

The Saksham Niveshak campaign is running from April 1, 2026 to July 9, 2026, marking the second such initiative by IEPFA and the Ministry of Corporate Affairs. The primary objective is to encourage and facilitate shareholders to update their Know Your Customer (KYC) details, bank mandates, and contact information for seamless credit of unclaimed dividends and shares.

Advertisement Publication Details

Sundram Fasteners published the campaign advertisements in The Economic Times, Chennai Edition to reach its shareholder base. The company's disclosure confirms compliance with regulatory requirements for public communication regarding investor-related initiatives.

Shareholder Resources and Contact Information

The campaign provides comprehensive resources for shareholders to access relevant forms and information. Sundram Fasteners has made available detailed contact information through its Registrar and Share Transfer Agent for KYC processes.

Regulatory Compliance and Documentation

The disclosure was signed by G Anand Babu, Senior Manager-Finance & Company Secretary, and submitted to both NSE and BSE. The advertisement copies and related documentation are also available on the company's official website at www.sundram.com , ensuring transparency and accessibility for all stakeholders.

The initiative represents part of the broader regulatory framework aimed at protecting investor interests and ensuring proper maintenance of shareholder records and entitlements. As per the Companies Act, 2013, if dividend remains unclaimed for seven consecutive years, the dividend amount and corresponding shares are liable to be transferred to IEPFA.