Mivaan Steels, JSW Unit, Declared Successful Bidder in Rajgamar Dipside Coal Auction

22 Aug 2025 , 09:52 AM

Mivaan Steels Limited, a wholly owned subsidiary of JSW Steel Limited, has secured the Rajgamar Dipside (South of Phulakdih Nala) coal block in Chhattisgarh following a competitive auction conducted by the Ministry of Coal, Government of India. The company was officially declared the “Successful Bidder” on August 18, 2025.

The auction, held on July 30, 2025, saw Mivaan Steels emerge as the top contender with a final offer of 31.5% of the average monthly coal prices, as published under the National Coal Index (NCI) by the ministry.

Following this development, the company will now proceed with the next steps as mandated under the tender conditions. These include securing the Letter of Intent, obtaining statutory clearances, signing the Coal Mine Development and Production Agreement (CMDPA), and subsequently commencing mining operations.

JSW Steel, through its subsidiary, noted that the delay in making this disclosure was due to late communication of the auction outcome from Mivaan Steels. The company clarified that the announcement has been made in compliance with the Securities and Exchange Board of India’s (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

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