22-Oct-2026 15:42:19
JINDAL STAINLESS: APPROVES MERGER OF 4 WHOLLY OWNED SUBSIDIARIES INTO PARENT COMPANY
• Merger Plan: Jindal Stainless approves draft amalgamation scheme to merge 4 wholly owned subsidiaries into the company • Subsidiaries: Chromeni Steels, Rabirun Vinimay, JSL Super Steel and Jindal United Steel to be merged • Effective Date: April 1, 2027, proposed as the appointed date of amalgamation • Operational Efficiency: Merger aims to simplify group structure, optimise resource utilisation and improve operational efficiency • Cost Savings: Expected to reduce administrative and compliance costs while eliminating inter-company transactions • Shareholding Impact: No new shares to be issued and no cash consideration; existing shareholding structure remains unchanged • Regulatory Approval: Subject to necessary shareholder, creditor, regulatory and NCLT approvals
JINDAL STAINLESS LIMITED