JSW Group's Strategic Move in MG India

In a significant development within the automotive sector, the JSW Group, led by Sajjan Jindal, is reportedly in advanced talks to acquire Everstone Capital's 8% stake in MG India. This move is part of JSW's broader strategy to enhance its stake in the company, with current negotiations focusing on valuation and the premium involved.

As of now, the JSW Group holds a 35% stake in MG India, with Everstone Capital and MG dealers and employees owning 8% each. The potential acquisition of Everstone's stake would increase JSW's holding to 43%, still short of a majority. The remaining 49% is held by MG India's Chinese parent, SAIC.

This strategic negotiation underscores JSW Group's ambition to solidify its position in the competitive automotive market, leveraging its partnership with SAIC in the joint venture, JSW MG Motor India, established in late 2023.