JFE keen on raising stake in JSW Steel

Mumbai : Japan-based JFE Steel Corporation, world’s fifth largest steel maker, said it may look at increasing its stake in its Indian partner JSW Steel after the Sebi proposal to raise the open offer trigger to 25% from 15% now comes into effect.

JFE holds 14.99% stake in the Sajjan Jindal-controlled company, which is just short of the 15% mark at which the Japanese company, under the Indian ruleswill have to come out with an open offer to acquire another 20% stake inJSW Steel.