JSW Steel arm enters into deal with startup Ayena
30 Jan 2023
2 Min Read
CW Team
On Tuesday, JSW Steel announced that its subsidiary, JSW Steel Coated Products, had reached an agreement to buy a 31% ownership in the startup Ayena Innovation, which operates in the home furnishings and d茅cor industry, for a cash payment of 59.9 million.
The proposed investment, according to the announcement made public on Tuesday, is consistent with JSW Steel Coated Products Limited's efforts to find innovative ways to boost the demand for coated steel products.
The investment, according to the company's announcement, will allow JSWSCPL to further broaden its customer portfolio mix and strengthen its position in the retail industry.
The company plans to purchase a 31% ownership stake in Ayena through its wholly owned subsidiary, JSWSCPL, according to SW Steel.
In a statement provided to stock markets on Tuesday, the business stated that the indicative time frame for the conclusion of the transaction was 45 days from the date the agreements were executed.
The flagship business of the JSW Group is the Mumbai-based, multinational steel maker JSW Steel. JSW Steel became India's second-largest steel firm after ISPAT Steel and Jindal Vijayanagar Steel Limited merged.
JSWSCPL, a wholly owned subsidiary of JSW Steel that was established in 2013, asserts to be the largest producer and exporter of color-coated steel products in the nation.
The statement further stated that Avena is a startup that has been authorised by the Department for the Promotion of Industry and Internal Trade to conduct business, and that it will specialise in the creation, production, and marketing of quick-to-install modular solutions, such as modular kitchens.
On Tuesday, JSW Steel announced that its subsidiary, JSW Steel Coated Products, had reached an agreement to buy a 31% ownership in the startup Ayena Innovation, which operates in the home furnishings and d茅cor industry, for a cash payment of 59.9 million.
The proposed investment, according to the announcement made public on Tuesday, is consistent with JSW Steel Coated Products Limited's efforts to find innovative ways to boost the demand for coated steel products.
The investment, according to the company's announcement, will allow JSWSCPL to further broaden its customer portfolio mix and strengthen its position in the retail industry.
The company plans to purchase a 31% ownership stake in Ayena through its wholly owned subsidiary, JSWSCPL, according to SW Steel.
In a statement provided to stock markets on Tuesday, the business stated that the indicative time frame for the conclusion of the transaction was 45 days from the date the agreements were executed.
The flagship business of the JSW Group is the Mumbai-based, multinational steel maker JSW Steel. JSW Steel became India's second-largest steel firm after ISPAT Steel and Jindal Vijayanagar Steel Limited merged.
JSWSCPL, a wholly owned subsidiary of JSW Steel that was established in 2013, asserts to be the largest producer and exporter of color-coated steel products in the nation.
The statement further stated that Avena is a startup that has been authorised by the Department for the Promotion of Industry and Internal Trade to conduct business, and that it will specialise in the creation, production, and marketing of quick-to-install modular solutions, such as modular kitchens.
Next Story
Swamiraj Rebrands as House of Swamiraj, Announces Rs 210 Cr Project
In a strategic shift marking its evolution from a reputed builder to a lifestyle-focused brand, Swamiraj Constructions has rebranded as House of Swamiraj. With a two-decade legacy and over 1,700 homes delivered across the Mumbai Metropolitan Region (MMR), the company is embracing a new phase centred on community-driven, wellness-oriented living. The rebranding was unveiled via a digital campaign titled #BeyondDimensions, executed in three phases鈥攖easer, engagement, and launch. The campaign spotlighted the brand鈥檚 renewed commitment to designing homes that go beyond function to foster ..
Next Story
Morpho Dimensions Set to Cross Rs 1 billion Revenue in FY 25鈥�26
Morpho Dimensions, a venture of acclaimed architecture and design firm Morphogenesis, is transforming India鈥檚 office interiors landscape with a technology-first, design-led approach. With a secured orderbook of Rs 700 million and additional projects in the pipeline, the firm is confidently on track to cross Rs 1 billion in revenue in FY 2025鈥�26.聽By combining Artificial Intelligence (AI), Building Information Modelling (BIM), and Virtual Reality (VR), Morpho Dimensions enables clients to visualise and step into immersive, ready-to-operate workspaces within 90 days鈥攗shering in a new bench..
Next Story
TOTO鈥檚 NEOREST Surpasses 4 Million Global Shipments
TOTO has announced that its flagship smart toilet, NEOREST, has surpassed 4 million global shipments as of March 2025, marking a major milestone in the evolution of luxury sanitation and setting a new global benchmark in design-led hygiene innovation. Launched in 1993 with the aim to redefine conventional toilets, NEOREST has consistently merged cutting-edge technology with minimalist design. Over three decades, it has become a category-defining product, earning global acclaim with prestigious honours including the iF Design Award, Red Dot, and Green Good Design Awards. The integrate..
