JSW Steel on Wednesday informed stock exchanges that it had bought 60 per cent of the share capital of Dolvi Minerals and Metals Pvt Ltd (DMMPL) for Rs 1.09 billion in cash from the existing investors.
Dolvi is a company engaged in the business of “acting as traders, whole-sellers and retailers in all forms of metallic and non-metallic minerals, which includes coal and lignite, coal products and iron steel products.
After the acquisition of the Dolvi shares, the latter has become a wholly owned subsidiary of JSW Steel, which along with its nominees now holds 100 per cent of the issued and paid-up equity share capital of DMMPL.