May 5th, 2026| New Delhi: Shardul Amarchand Mangaldas & Co. (SAM) acted as legal counsel to POSCO Group (POSCO Co., Ltd. and POSCO-India Private Limited) on its proposed 50:50 joint venture with JSW Steel Limited (JSW Steel) for the establishment of a greenfield 6 million ton per annum integrated steel manufacturing plant in Odisha, India.
The transaction involves POSCO Group subscribing to equity shares in Saffron Resources Private Limited (JV Entity), a wholly owned subsidiary of JSW Steel. Upon completion of the transaction, the JV Entity will operate as a 50:50 joint venture between POSCO Group and JSW Steel. The JV Entity will commission a greenfield integrated steel manufacturing plant in Odisha, India, with a capacity of 6 million ton per annum.
Closing of the transaction is subject to satisfaction of certain conditions precedent set forth in the transaction documents executed between the parties.
The Transaction Team was led by Shruti Kinra — Partner, Rohan Sharda – Partner, Mragank Shukla — Senior Associate and Arjun Yadav — Associate.
The Competition Team was led by Rohan Arora — Partner, Supritha Prodaturi — Partner, Aisha Khan — Senior Associate and Saii Divkanwar Singh — Associate.
Sanjiv Malhotra — Head of Tax Practice, Gouri Puri – Partner, Aayush Nagpal – Partner, Rahul Yadav — Partner, Rohit Garg — Partner, and Nimish Malpani — Principal Associate advised on tax related aspects of the transaction.
Misha — Partner, Vaijayant Paliwal — Partner, Siddhant Kant — Partner, Mahima Sareen — Principal Associate advised on the insolvency and diligence related aspects of the transaction.
Binsy Susan — Partner and Akshay Sharma – Partner advised on the enforcement and arbitration related aspects of the transaction.
Radhika M Dudhat — Partner advised on the environmental law advisory and documentation related aspects of the transaction.
Mrinal Kumar – Partner and Rohit Bajaj – Partner advised on the real estate and diligence related aspects of the transaction.
Pallavi Shroff — Managing Partner provided overall strategic guidance on the matter; V R Neelakantan — Partner provided inputs on the transaction from projects & finance standpoint; and Gopalkrishna Hegde — Consultant and Prashant Saran — Senior Consultant for provided inputs from a regulatory standpoint.
