JSW Steel announced that its subsidiary JSW Steel Coated Products has entered into a shareholders agreement and a share subscription agreement with Ayena Innovation Private Limited and its shareholders. Ayena is a start-up registered by the Department for Promotion of Industry and Internal Trade and will be in the business of development, manufacturing and sales of quick-to-install modular solutions including modular kitchens. Post-closing of the transaction, JSW Steel Coated Products will have 31% equity shareholding in Ayena. JSW Steel said “The proposed investment is in line with endeavors of JSW Steel Coated Products to explore new avenues to increase consumption of coated steel products. It will enable JSW Steel Coated Products to further diversify its customer portfolio mix and enhance its presence in the retail business.”
JSW Steel announced that its subsidiary JSW Steel Coated Products has entered into a shareholders agreement and a share subscription agreement with Ayena Innovation Private Limited and its shareholders. Ayena is a start-up registered by the Department for Promotion of Industry and Internal Trade and will be in the business of development, manufacturing and sales of quick-to-install modular solutions including modular kitchens. Post-closing of the transaction, JSW Steel Coated Products will have 31% equity shareholding in Ayena. JSW Steel said “The proposed investment is in line with endeavors of JSW Steel Coated Products to explore new avenues to increase consumption of coated steel products. It will enable JSW Steel Coated Products to further diversify its customer portfolio mix and enhance its presence in the retail business.”
