JSW Group has charted a capex plan of $50 billion over the next five years to fuel its aggressive expansion across key sectors, including steel, energy, and electric vehicles (EVs).
In an interview with Moneycontrol’s Chandra R Srikanth at the World Economic Forum in Davos, Parth Jindal, Managing Director of JSW Cement and JSW Paints, outlined the company’s strategy to cement its leadership in diverse industries.
“Our largest business has always been steel, and we aim to maintain our number one market share by expanding aggressively,” Jindal said.
JSW Energy is set to play a pivotal role in the group’s expansion plans, with the company targeting 20 GW capacity across thermal, renewable, and hydro energy. “We recently acquired KSK Mahanadi and O2 Power, and we are investing big in pump storage,” he added.
Jindal also confirmed that JSW Cement is poised to become the group’s fourth listed entity.
“We have received SEBI clearance, and we expect the IPO to take place within the first half of this calendar year,” he revealed.
Sajjan Jindal-led JSW Group-owned JSW Cement had filed preliminary papers with the capital markets regulator SEBI to raise Rs 4,000 crore via initial public offering.
This move follows the successful listing of JSW Infrastructure 18 months ago, signaling the group’s intent to grow its footprint in capital markets.
Expanding in Paints and EVs
The paints business, now in its fifth year of operations, is emerging as a strong contender in the market, Jindal said.
“JSW Paints is now the fifth-largest paint company in India, with a top line of close to Rs 2,500 crore this year. Our strategy focuses on winning micro markets and building relationships with contractors, painters, and designers,” he explained.
JSW is ramping up efforts both through its partnership with MG Motors and its own subsidiary, JSW Mobility.
“We plan to launch a new EV model every three to six months with MG Motors,” Jindal stated. Additionally, JSW Mobility is developing EV buses, trucks, and cars, with the first JSW-branded car expected to hit the roads by 2027.
Reflecting on his first experience at Davos, Jindal highlighted India’s growing prominence on the global stage. “India has truly arrived as the fastest-growing economy, and the optimism around our country is palpable,” he said.
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