The company said that it has, in one or more tranches, acquired 1,32,37,227 equity shares of Rs10/- each, representing 26.45% of issued and paid-up share capital of JSW Vallabh Tinplate.
It further added that on closing of the transaction, JSW Vallabh will become a wholly owned subsidiary of the company through direct and indirect (through company's WOS Vardhaman Industries) shareholding.
With this recent transaction JSW Steel's shareholding will increase from 73.55% to 100%.
JSW Steel was trading at Rs344 per piece up by Rs3.2 or 0.94% from its previous closing of Rs340.80 on the BSE, at around 10.06am.
The scrip opened at Rs344.20 and touched an intraday high and low of Rs344.35 and Rs342.45 respectively.