JSW Steel announced that its wholly owned subsidiary, Mivaan Steels, was declared the successful bidder on 18 August 2025, by the Ministry of Coal, Government of India, for the Rajgamar Dipside coal block auction in Chhattisgarh.
The auction, conducted by the Ministry of Coal on 30 July 2025, saw the companys highest final offer at 31.50% of the average monthly coal prices, as per the National Coal Index (NCI) published by the Ministry.The company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances, execute Coal Mine Development and Production Agreement (CMDPA) and start the mining operations.
The company stated that the delay in disclosure was due to delayed communication from its subsidiary.
JSW Steel is the flagship business of the diversified, US$ 23 billion JSW Group. As one of India's leading business houses, JSW Group also has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital.
The company reported a 158.46% year-on-year (YoY) increase in consolidated net profit to Rs 2,209 crore for the quarter ended 30 June 2025, compared to Rs 867 crore in the corresponding period last year. Revenue from operation rose 0.47% year on year to Rs 43,147 crore in the quarter ended 30 June 2025.
The scrip shed 0.06% to Rs 1,081.90 on the BSE.
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