Jindal Stainless (Hisar) to get merged into Jindal Stainless
December 29, 2020
× The Board of Directors of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) on Tuesday 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.
In a statement, Abhyuday Jindal, Managing Director, JSL & JSHL, said, “I am confident that the proposed merger of JSHL into JSL will enhance value to shareholders of both the companies. The merger of JSL and JSHL will also induce a simplified capital structure, expanding the turnover of the merged business to ₹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. This transition will also bolster the government’s ‘Atmanirbhar Bharat’ mission.”
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.