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
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Jindal Stainless Hisar to be merged into Jindal Stainless Ltd ANI | Updated: Dec 29, 2020 18:09 IST
New Delhi [India], December 29 (ANI): Jindal Stainless Hisar Ltd (JSHL) will be merged into Jindal Stainless Ltd (JSL) after the board of directors at both companies on Tuesday accepted recommendations of respective board committees.
As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL. The merger of JSL and JSHL will induce a simplified capital structure, expanding the turnover of merged business to Rs 20,000 crore, said Managing Director Abhyuday Jindal. With 1.9 million tonnes per annum melt capacity, the merged entity will be the only Indian company in the league of top 10 stainless steel companies in the world, he said in a statement.
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.