JSW Steel Limited

Theleme India has dropped off JSW Steel Limited's disclosed shareholder list after previously holding a 1.02 percent stake, indicating either a complete exit or a reduction to below the 1 percent disclosure threshold.

A leading iron and steel manufacturer in India, JSW Steel produces and sells a comprehensive range of steel products for construction, automotive, infrastructure, and industrial applications. The company operates as the flagship business of the JSW Group, a diversified conglomerate with significant interests in energy, infrastructure, cement, paints, and sports. JSW Steel serves both domestic and international export markets through its integrated manufacturing facilities and distribution network.

India equity vehicle of Theleme Partners, a London-based concentrated hedge fund founded in 2009 by Patrick Degorce (founding partner of TCI under Chris Hohn, ex-Merrill Lynch and Lehman). Theleme runs around USD 2 bn in 13F securities across a high-conviction global long book that frequently includes large Indian positions.