Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

JSW Steel Limited completes payment of consideration to Welspun Corp for acquisition of PCMD business

Posted On: 2021-07-24 06:07:16 (Time Zone: UTC)

JSW Steel Limited ("JSWL") had acquired from Welspun Corp Limited ("Welspun"), on a slump sale basis, the business of manufacturing of high-grade steel plates and coils ("PCMD Business"), for a consideration of INR 848,50,00,000/- (Rupees Eight Hundred and Forty Eight Crores and Fifty Lakhs only), subject to closing adjustments towards net working capital, and that the consideration was to be paid on a deferred basis. JSWL had paid an amount of (i) INR 225,00,00,000/- (Rupees Two Hundred and Twenty Five Crores only) as on April 30, 2021 as part consideration for the acquisition of the PCMD Business, and (ii) INR 498,50,00,000/- (Rupees Four Hundred and Ninety Eight Crores and Fifty Lakhs only) on June 8, 2021 as part consideration for the acquisition of the PCMD Business.

The balance consideration of INR 85,69,80,773/- (Rupees Eighty Five Crores Sixty Nine Lakhs Eighty Thousand Seven Hundred and Seventy Three only), after making closing adjustments towards net working capital, has been paid to Welspun on July 23, 2021, and that there is no further consideration payable to Welspun for the acquisition of the PCMD Business.

Shares of JSW STEEL LTD. was last trading in BSE at Rs. 717.4 as compared to the previous close of Rs. 716.7. The total number of shares traded during the day was 501915 in over 12392 trades.

The stock hit an intraday high of Rs. 727.35 and intraday low of 712.05. The net turnover during the day was Rs. 361055706.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Ashoka Buildcon Limited updates on acquisition of stake in Ashoka Highways Durg Limited

Tata Tele Business Services Unveils 'Customer Experience Platform' for Businesses

KPIT Technologies Limited to acquire Future Mobility Solutions GmbH

Apollo Pipes Ltd commences commercial production from new unit

Trejhara wins order from one of the largest logistics firms for $3.5 mn

Ramkrishna Forgings Ltd bags order worth INR 650 million in Mining & Earthmoving segment

Mindtree expands in Europe and Asia-Pacific with Executive Appointments to accelerate next phase of growth

ZEE Entertainment Enterprises Ltd and Sony Pictures Networks India to merge

Godrej Properties achieves sales of INR 575 crore in a single day at the launch of the second phase of its project Godrej Woods in Noida

Nazara Technologies Ltd arm to acquire 69.18% stake in Publishme

Jonjua Overseas Ltd acquires more shares in Jonjua Air Pvt Ltd

Mphasis Acquires Blink UX - a User Experience Research, Strategy, and Design firm

MTAR Technologies Ltd receives NADCAP certification for 100% EOU unit

RattanIndia Enterprises launches drones business in wholly owned subsidiary NeoSky India Limited

Hero MotoCorp recognized by Guinness World Record

Surya Roshni Ltd receives order of Rs. 41.22 crore

Narbada Gems and Jewellery Ltd approves renewal of working capital facilities

Gyscoal Alloys Ltd updates on rights issue

Archit Organosys Ltd to expand capacity by 6000 MT per annum

Rajnish Wellness Ltd announces Dava Discount Business Model

KEC International wins New Orders of Rs. 1,157 crores

Torrent Power acquires 156 MW Wind Power Plants from CESC Limited

Rajratan Global Wire Limited receives investment promotion assistance of Rs. 2.82 crore

TCS Recognized as a Leader in ACES Automotive Engineering Services by Everest Group

Deep Energy Resources Ltd arm selected as CBM developer for Jharia CBM Block-I

Infosys Collaborates with ServiceNow to Provide Enterprise-Level Service Management for Manufacturing Customers

₹ 200 Crore Base Issue Size of Public Issue of NCDs by Indiabulls Housing Finance Limited Oversubscribed 4.04x Times

Steel Strips Wheels Limited receives approval for resolution plan for AMW Autocomponent Ltd

KIOCL Ltd shuts down pellet plant

Garware Hi-Tech Films Ltd Bags Silver at India Green Manufacturing Challenge Award 2020-21

HCL Technologies and Lendico, an ING Germany Company, Join Forces in Building Solutions for SMEs

Happiest Minds wins two awards at Asiamoney Asia's Outstanding Companies Poll 2021

Chalet Hotels Ltd. becomes first hospitality company globally to join Climate Group's RE100, EP100 and EV100 initiatives

Atishay Limited appointed partner for Providing Door to Door Public Service Delivery to the Citizens

Lincoln Pharmaceuticals Ltd acquires a plant in Mehsana, Gujarat, plans to launch Cephalosporin products soon

Tata Motors to increase prices of its commercial vehicles from 1st October 2021

Cyient Joins TM Forum to collaborate with global CSPs to drive digital transformation in the Communications industry

BLS International selected as National Business Correspondent for India's largest bank, State Bank of India

Clean Science and Technology Ltd to acquire immovable property for Rs. 32.01 crores

Godrej Industries Ltd to issue NCDs for Rs. 750 crore

HDFC announces festive home loan offer with rates at 6.70%

Fineotex Products now ECO PASSPORT certified by OEKO-TEX®, audit conducted by Hohenstein, Germany

L&T Hydrocarbon Engineering bags significant orders from GAIL, Air Products Middle East Industrial Gases LLC

Hon'ble High Court of Delhi passes an order in favour of EaseMyTrip regarding unsolicited messages

Sterling and Wilson Solar Limited commissions 66 MWp solar energy project in Jordan

RattanIndia Enterprises appoints Mr. Peeyush Kumar as Head for their Drone business

Glenmark Pharmaceuticals receives ANDA approval for Clindamycin Phosphate Foam, 1%

PDS Multinational Fashions Limited appoints Raamann Ahuja as Group Chief Human Resources Officer

Mr. Sumit Kumar Shaw resigns from Websol Energy System Ltd

K P Energy Ltd receives LOI aggregating Rs. 119.73 crores

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020