Merger Of Jindal Stainless Hisar Into Jindal Stainless: Key Highlights By ICICI Direct
Stainless steel strips pass though a cutting machine in the razor blade strip shop at a factory in Haryana, India. (Photographer: Udit Kulshrestha/Bloomberg)

Merger Of Jindal Stainless Hisar Into Jindal Stainless: Key Highlights By ICICI Direct


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ICICI Direct Report

The board of directors of Jindal Stainless Ltd. and Jindal Stainless (Hisar) Ltd. have accepted the recommendations of the respective board committees and approved the merger of Jindal Stainless Hisar into Jindal Stainless.

The transaction between Jindal Stainless (Hisar) and Jindal Stainless is an all-equity merger.

As per the approved share swap ratio, 195 equity shares of Jindal Stainless will be issued for every 100 equity shares of Jindal Stainless Hisar.

Furthermore, as per the proposed structure, the mobility business of JSL Lifestyle Ltd, a domestic subsidiary of JSHL, would be merged into Jindal Stainless.

Click on the attachment to read the full report:

ICICI Direct Stainless Steel Sector Update.pdf


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