Declaration as a Successful Bidder in the auction for Rajgamar Dipside (South of Phulakdih Nala) Coal Block in the State of Chattisgarh
JSWSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
JSW Steel's wholly owned subsidiary, Mivaan Steels Limited, has been declared a Successful Bidder by the Ministry of Coal for the Rajgamar Dipside (South of Phulakdih Nala) Coal Block in Chhattisgarh. The auction was held on July 30, 2025, and the declaration came on August 18, 2025, with the disclosure delayed due to late communication from the subsidiary. The winning bid was 31.50% of the average monthly coal prices as per the National Coal Index (NCI). Mivaan Steels will now seek the Letter of Intent, statutory clearances, and execute the Coal Mine Development and Production Agreement (CMDPA) before commencing mining operations.
This is a positive backward-integration move for JSW Steel, strengthening its long-term raw material security for steelmaking. However, the coal block is still subject to regulatory approvals and production timelines, so the actual impact on output and costs will only materialize over time.