Sajjan Jindal-led JSW Steel plans to raise about ₹15,000-16,000 crore through dilution of 50 per cent stake in its subsidiary Bhushan Power and Steel, sources aware of development said.

The company is in talks with several companies and strategic investors to get a better valuation for the stake sale, though its long- term Japanese partner JFE Steel appears to be the front-runner for acquiring the stake, the sources said.

Strategic partner

Along with the required investment, JFE should be the natural partner as it brings the latest technology and wider market reach, said a source.

Given the company’s aggressive expansion plans, the deal is expected to be closed by December, the sources added.

When reached for confirmation of the deal, a JSW Steel spokesperson said the company’s stra

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