JSW Steel has recently announced the formation of a wholly-owned subsidiary named JSW Green Steel with the aim of producing hot-rolled and cold-rolled steel products. According to the information provided by JSW Steel to the exchanges, the subsidiary was established in Mumbai on February 27 and is currently awaiting the initiation of its business operations.

As per the company's disclosure, JSW Green Steel is now a wholly-owned subsidiary of JSW Steel.

The company stated, "The formation of this new entity is centred around the manufacturing of hot-rolled and cold-rolled steel products, aligning with the core business focus of the company."

It was further explained that hot-rolled steel is utilized in various sectors such as automobiles and agriculture, while cold-rolled steel is employed by industries involved in manufacturing, construction, and the production of home appliances, among other applications.