Jindal Stainless (Hisar) Limited to merge with Jindal Stainless Limited
Posted On: 2020-12-29 06:09:43 (Time Zone: Arizona, USA)
The Board of Directors of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) today accepted the recommendations of the respective Board Committees and approved the merger of JSHL into JSL. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL.
Managing Director, JSL & JSHL, Mr Abhyuday Jindal said, I am confident that the proposed merger of JSHL into JSL will enhance value to shareholders of both the Companies. The consolidation will enable harnessing of the complementing strengths of the individual Companies. Seamless integration of infrastructure, processes and operational synergies, along with a strengthened balance sheet, would improve financial flexibility. The merger of JSL and JSHL will also induce a simplified capital structure, expanding the turnover of t
Jindal Stainless Hisar to be merged with JSL via share swap
As per the approved share swap ratio, 195 equity shares of Jindal Stainless Limited will be issued for every 100 equity shares of Jindal Stainless (Hisar) Limited
Chitranjan Kumar | December 29, 2020 | Updated 20:34 IST
Post merger, Jindal Stainless will be the single listed entity on the stock exchanges
Jindal Stainless (Hisar) Limited (JSHL) will be merged into Jindal Stainless Limited (JSL) in a share swap ratio of 1:1.95, subject to approvals from statutory authorities, shareholders, creditors, and NCLT. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL.
The Boards of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) today approved the merger of JSHL into JSL in a share swap ratio of 1:1.95. “The merger of JSHL in to JSL will induce a simplified capital structure, expanding the turnover of the merged business to Rs 20,000 crore. With 1.9 MTPA melt capacity, the merged entity will be the only Indian company in the league of top 10 stainless steel companies in the world,” Abhyuday Jindal, managing director at JSL and JSHL was quoted as saying. Post the merger, JSL will be the single listed entity on the stock exchanges with promoter holding at 57 per cent, and remaining 43 percent by the public.