JSW Steel Ltd Company History

The Company was incorporated on March 15, and the Certificate of Commencement of Business was received on July 8. The Company is engaged in the business of integrated steel. It was promoted by the assisted sector by Jindal Iron & Steel Co. Ltd. and Karnataka State Industrial Investment and Development Corporation Ltd.

The Company undertook to set up an integrated steel plant with a capacity of 1.25 million TPA of hot rolled coils at Village Toranagallu, Dist. Bellary, Karnataka rich in iron ore reserves.

As per the MOU entered into with KSIIDC, it was to be provided with grid support, approvals for construction of railway siding etc.

The company entered into a technical arrangement with Voest Alpine Industrieanlagenbau (VAI), for technical details with respect to productivity, iron ore technical details etc.

M/s. Metallurgical and Engineering Consultants (India) Ltd. MECON were appointed as the principal consultants for the entire project M/s. MECON were responsible for feasibility study, overall design of plant etc.

A Joint Venture company Jindal Tractebel Power Company Ltd. was set up for supply of power of 2 x 130 MW of power.

Another Joint Venture Jindal Praxair Oxygen Co. (P) Ltd. was also set up for supply of Oxygen. Till the power supply is adequate, two standby generators of 2500 KVA were installed for uninterrupted power supply.

2 x 11.5 MW diesel power plant was to be set up for the supply to the steel plant.

The Company proposed to make the following changes: To set up a pellet plant with a capacity of 3 million TPA; It was also proposed to add balancing facilities to improve the product quality besides additional value added output; In the BOF the Continuous Casting shops and also in the integrated production chain, corresponding marginal investments were proposed, linked to enhancement of capacity by 25%; The company proposed to invest in the equity capital of joint venture viz. M/s. Praxair Inc., USA and with Tractebel of Belgium.

The Company issued 3175,00,000-14% secured redeemable partly convertible debentures of Rs 40 each as follows:

(A) On firm allotment basis: 450,00,000 debentures to promoters and their associates. 505,00,000 debentures to financial institutions. 158,60,000 debentures to Indian Mutual Funds. 87,50,000 debentures to FIIs. 275,00,000 debentures to NRIs/OCBs.

(B) On preferential allotment basis: 150,00,000 debentures to shareholders of promoter companies (only 81,68,500 debentures taken up). 12,50,000 debentures to employees of the Company and promoter companies (only 4,28,500 debentures taken up). 211,40,000 debentures to Indian Mutual Funds (158,60,000 debentures taken up). 175,00,000 debentures to FIIs (only 17,50,000 debentures taken up). 100,00,000 debentures to NRIs and OCBs (64,25,500 debentures taken up). 37,50,000 debentures to Financial Institutions/banks (only 5,00,000 debentures taken up).

Balance 1012,50,000 debentures along with 463,92,500 debentures unsubscribed under preferential quota was issued to the public.

Part A of Rs 20 was automatically converted into two equity shares of Rs 10 each at par on date of allotment i.e. 15.4.1995.

Part B of Rs 20 was to be redeemed at par in four equal annual instalments at the end of 6th, 7th, 8th & 9th year respectively from the date of allotment.

53,35,150 No. of equity shares of Rs 10 each issued, subscribed 53,46,64,850 No. of equity shares of Rs 10 each were issued in 1995 of which 399,664,850 No. of equity shares were reserved for allotment on a firm basis to promoters and their associates. Balance 135,000,000

shares were issued to the public. 635,000,000 No. of equity shares allotted on conversion of PCDs.

The Company has issued 13.5 Crore Equity Shares of Rs. 10/- per share at par, aggregating Rs. 135 Crore and 27.25 Crore 14% Secured Redeemable Partly Convertible Debentures of Rs.40/- each for cash at paraggregating Rs. 1090 Crore.

Praxair has entered into a Joint venture with Jindal Vijayanagar Steel to build and operate world's largest cryogenic air separation plants for supply of oxygen, nitrogen and argon to Jindal's integrated steel facility in Bellary in Karnataka.

The first Corex unit is slated for commissioning by October '97. The Contract for the second unit of Corex has been signed with VAI and this unit will be commissioned by April-May 1998.

The BOF & CCP Units were to be commissioned by September/October to synchronize with the commissioning of the first unit of Corex.

The Company has entered into a Joint venture with M/s. Mysore Minerals Limited (A Government of Karnataka Undertaking) the Lease-holder of Thimmappanagudi deposits, to form Jindal Mysore Minerals Mining Company Private Ltd., a new joint venture company a

Memorandum of Understanding to this effect has been signed with Mysore Minerals Limited on 17th January.

The State-owned Mysore Minerals Ltd and Jindal Vijaynagar Steel Ltd have entered into an MoU under which a joint venture will be formed to explore, develop and mine iron ore in Bellary district.

JVSL had commissioned the first phase of the roughing mill of its hot strip mill in March 1997

The contract for the second unit of Corex was signed with VAI.

Jindal Vijayanagar Steel is setting up a mega integrated steel plant in Toranagallu.

JVSL has formed a joint venture company, Vijayanagar Minerals Ltd, with Mysore Minerals, to explore and prospect for mines in the region.

JVSL is setting up a steel plant to produce 1.6 million tonnes per annum (mtpa) of Hot Rolled (HR) coils using the COREX technology for making liquid metal and a Basic Oxygen Furnace (BOF) to make steel, at Vijayanagar, in Karnataka.

The first corex module of the Jindal Vijayanagar Steel Plant with a capacity of 8,00,000 tonne would be commissioned by next month. Promoted by the Jindal group, the plant set up at Tornagallu in the iron rich Bellary-Hospet in Karnataka.

The Jindal group was also setting up a joint venture with the British Steel to manufacture organic coated steel products.

JVSL is the first integrated steel plant to be set up after liberalisation.

The First unit of the oxygen plant is scheduled to be commissioned in third quarter and the second unit by First quarter of 1999 so as to synchronize with the commissioning date of the steel plant, in stages.

The Corex Plant was commissioned on Oct 5, making JVSL the first company in the world to use the technology.

The Government has given the company a mine belt in Sironi in AP, which is expected to take there to five years to develop.

JVSL has also entered into joint ventures with Tractebel and Praxair for setting up power and oxygen plants, respectively, as forward and backward integration thrusts.

The company has entered into an agreement with the Steel Authority of India for procuring slab.

According to JVSL managing director JK Tandon, the company is in advanced stage of negotiations with L&T over the proposal to set up the grinding unit in the complex.

Jindal is talking to various cement manufacturers to get them to set up factories in the vicinity to make use of this by-product.

The company acquired 60 per cent stake in a city-based joint venture company, Chemicon.

It recently entered into an agreement with Saint-Gobain Glass India to install an air separation plant for the supply of nitrogen and hydrogen to Saint-Gobain's float glass unit at Chennai.

The company has entered into an agreement with the Steel Authority of India for procuring slab.

Jindal Praxair has also entered into a take-or-pay agreement with JVSL for its gas supply.

Jindal Vijaynagar Steel Ltd. which has its plant located at Bellary in Karnataka, has become the first steel company in India to implement a total integrated resource planning solution for its business process.

Jindal Vijaynagar Steel Ltd. (JVSL) has signed a memorandum of understanding (MoU) with the Thyssen promoted-Indo German International Pvt. Ltd. for securitising of hot-rolled (HR) coil steel.

The Company has signed a tripartite agreement with CDSL and Karvy Consultants Ltd.

The Company has signed a Memorandum of Understanding (MoU) with miners in and around the company's captive mines located in the Bellary Hospet region in Karnataka. The MoU has been signed for supplying iron ore fines for the company's pelletisation plant.

The Company has deferred its plans to float a $125-million global depository receipt issue to retire highcost debt.

The Company has appointed Andersen Consulting with a view to undertaking a financial restructuring in its corex steel plan in Karnataka.

The Company has entered the highly-lucrative liquefied petroleum gas sheets segment after extending its focus in hot-rolled coils (HRC) from south to western India.

Krishna Deshika appointed as Company Secretary of Jindal Vijayanagar Steel.

Jindal Vijaynagar Steel Ltd has informed the following changes in Company's Directorate:

Mr B S Patil IAS has resigned as Director and Mr KK Misra IAS has been appointed as Additional Director on the Board of the Company w e f August 23, 2002.

Jindal Vijayanagar Steel Ltd has informed the Exchange that Mr S David Chandrasekaran has been nominated on the Board of the Company w.e.f. June 5, 2003 by LIC of India in place of Mr. B R Sethi.

1. Approved the appointment of consultants and valuers to evaluate and advise on the Proposal for consolidation of its steel business with that of Jindal Iron & Steel Company

Ltd.

2. Approved the appointment of ICICI Securities Ltd and M/s RSM & Co as Consultants and the appointment of Deloitte Haskins & Sells & ICICI Securities as valuers in this regard.

3. Approved Prepayment and settlement of outstanding dues of Rs 3834.40 million to some of the unsecured foreign lenders subject to compliance of certain terms and conditions.

1) Dr. B N Singh was appointed as Additional Director & as Jt. Managing Director & CEO

2) Mr. U Mahesh Rao resigned as Director from the Board of the Company .

Jindal Vijayanagar Steel Ltd has delisted equity shares from the Cochin Stock Exchange Ltd & Mangalore Stock Exchange

Jindal Vijaynagar Steel Ltd (JVSL) approves merger of Euro Ikon Iron & Steel Pvt Ltd, Euro Coke & Energy Pvt Ltd, and JSW Power Ltd

JSW Steel signs contract with Siemens VAI for India's largest Blast Furnace

India Manufacturing Excellence Award: Platinum Award in Metals Category by Frost & Sullivan.

Rockwell Jury Award for Excellence.

CII-EXIM Bank Award: Commendation Certificate for Significant Achievement” towards Business Excellence.

Prime Minister National Award for Excellence in Urban Planning & Design for Township

Company has changed its name from Jindal Vijayanagar Steel Ltd. to JSW Steel Ltd

JSW gets new CEO

JSW sings supply contract with BOC

JSW Steel has won the "CIO 100 - Giant 100 Honouree 2006" (IT Award).

Gold Award in Metal Sector for Outstanding Achievement in Environment Management by Greentech Foundation

India Manufacturing Excellence Award: Corporate Gold Award in Metals Category by Frost & Sullivan.

JSW Steel to buy Jindal Saw's US plant

CII-Exim Bank Award: Commendation Certificate for Significant Achievement towards Business Excellence”. (on 1st Nov 2007, at Bangalore)

ERI Corporate Social Responsibility Award: Certificate of Appreciation in Recognition of Corporate Leadership for Good Corporate Citizenship and Sustainable Initiatives amongst Corporations with a turnover of above 500 crore rupees.

JSW Steel launches Galvalume

JSW Steel signs JV for Development of Iron Ore Mines

JSW Steel - Acquisition of Mining Concessions in Chile

JSW Steel inaugurates branded showroom in Ahmedabad

JFE Steel Corporation, the world renowned Japanese steel company and JSW Steel Ltd., India's leading private sector steel company have bonded together in a historic collaboration agreement.

JSW Steel plans huge investments in India projects.

JSW Steel set to become India's largest steelmaker

JSW Steel commissions India's largest Blast Furnace at Vijayanagar.

Toshiba Corporation (Toshiba)* JSW Group (JSW) and Toshiba JSW Turbine and Generator Pvt. Ltd. (Toshiba JSW) will hold a cornerstone laying ceremony today for the production facilities of Toshiba JSW in Chennai, Tamil Nadu.

JSW Steel net up, plans to buy US mine.

JSW may take over Brahmani Steels.

JSW Steel wins additional carbon credits.

In an effort to utilize the upcoming opportunity in the Indian Steel energy, the Steel industry major, JSW Steel Limited inked a 50:50 joint venture with Japan-based Marubeni Itochu Steel Inc. (MISI) to set up a steel processing center in North India.

JSW Steel - JSW Steel Ltd inks JV with Marubeni-Itochu Steel.

JSW Steel - JSW Steel : Crude Steel production - 6 lacs Tons.

JSW Steel Ltd has informed BSE regarding a Press Release dated September 01, 2012 titled "Merger Catapults JSW Steel to Top League in Indian Steel Sector".

JSW Steel inks agreement with Japan’s JFE Steel.

JSW Steel - JSW forays into Electrical Steel.

JSW Steel Ltd has informed BSE regarding a Press Release dated December 17, 2012, titled "JSW Steel - JFE signs agreement for CRNGO electrical sheets technology."

JSW Steel wins Platts Global Metals Award

JSW Steel sets up Steel Processing Center with Marubeni-Itochu Steel Inc.

JSW Steel launched new retail format – JSW Explore

JSW acquired Heidelberg Cement India's grinding facility at Raigad, Maharashtra

Registered Office of the Company has been shifted from Jindal Mansion, 5A, Dr. G Deshmukh Marg, Mumbai 400026 to JSW Centre, Bandra Kurla Complex, Bandra (East) Mumbai 400051.

JSW Steel inaugurates India's most modern COLD ROLLING MILL.

JSW Steel wins Prime Minister's Trophy for Excellence in performance.

JSW Steel acquired Raigad unit of Heidelberg Cement.

JSW Steel said that it has acquired sponge iron maker Welspun Maxsteel Ltd in a deal worth more than Rs 1,000 crore.

JSW Steel acquires 100% stake in JSW Praxair Oxygen Private Limited.

JSW Steel has launched JSW Everglow, a super-premium and technologically superior steel product in the Kerala market.

JSW Bags ‘Grow Care India Award 2018.

JSW Steel production exceeds over 16 million tonne of crude steel .

JSW Steel launches website to help MSMEs.

JSW Steel begins hot-rolled plates production at Dolvi Works plant.

JSW Steel signs MoU with Smartex.

Shri Ram Chandra Prasad Singh laysFoundation Stone for new 5 MTPA Project at JSW Steel Vijayanagar Works in Karnataka".

JSW Steel has acquired Neotrex Steel, an under-construction project to produce Low Relaxation Pre-Stressed Concrete (LRPC).

JSW Steel Vijayanagar becomes the First Manufacturer to achieve GreenPro Ecolabel for its ''Automotive Steel'' Products.