JSW Steel Limited (BSE:500228) will acquire flat-steel producer National Steel and Agro Industries Limited (NSEI:NATNLSTEEL) (NSAIL) through the bankruptcy court for a cash consideration of INR 6.21 billion through its wholly-owned subsidiary JSW Steel Coated Products Limited, the company informed stock exchanges. The steelmaker had got the approval from the Mumbai bench of the National Company Law Tribunal (NCLT) for its resolution plan last week, and the acquisition will be completed within 30 days of the effective date as in the resolution plan. This buyout is seen bringing synergy in terms of operations, procurement, marketing and sales for JSW Steel, it said.

In accordance with the resolution plan, shares of National Steel and Agro will now be delisted from the exchanges.